Question

How was the economic development of india visualised in the early decades after independence?​

Answer 1

Answer:

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The economic development of India visualised in the early decades after Independence were: ... → Planning Commission and Five Year Plans: A Planning Commission was set up to help design and execute suitable policies for economic development. → Mixed-economy: A mixed-economy model was agreed upon.

Answer 2

The economic development of India visualized in the early decades after independence

Explanation:

• In 1950, the government established a Planning Commission to help design and execute policies appropriate for economic development.
• There was a wide harmony on the "mixed economy" variety.
• Here, both the state and the private sector will play an important and complementary role in increasing production and generating employment.
• Now, it was up to the Planning Commission to define which industries should be started by the state and which by the market and how to achieve a balance between different sectors and states.
• In 1956, the Second Five Year Plan was drawn up which focused on the development of heavy industries such as steel and the construction of large dams.
• These areas will be under the control of the state.
• This focus on heavy industry and attempts at state regulation of the economy was to guide economic policy for the next few decades.