How was the economic development of India visualised in the early decades after independence?
Answers
people the accepted that the India would not survive as the democratic country because of the many cast religion
Answer:
The economic development of India visualized in the early decades after Independence in the following ways:-
1) In 1950, the Government set up a planning commission to help design and execute suitable policies for economic development.
2) There was a broad agreement on the "Mixed economy" model. Here both the private sector and state would play important and complementary roles in increasing production and generating jobs.
3) It was on the Planning Commission to define which industries should be initiated by the state and which by the market and how to achieve a balance between the different regions and the states.
4) In 1956, the second five-year plan was formulated which focused on the development of heavy industries such as steel, and on the building of the large dams.
5) These sectors were to be under the control of the state. This focus on heavy industry and the effort on the state regulation of the economy was to guide the economic policy for the next few decades.