How was the economic development of India visualised in the early decades after independence ?
Answers
Removing poverty and building a modern technical and industrial base were important objectives for the new nation. The Planning Commission was set up in 1950 to plan and execute policies for economic development.Elimination of poverty and building of a modern and technologically advanced nation were the major objectives of the country. To fulfill this aim, a Planning Commission was set up. The main aim of the Planning Commission was to formulate, plan and execute suitable policies for the economic development of India.
Mixed Economy: Model of mixed economy was practiced in the country, where important and key industries were to remain under the government while encouragement was also to be given to the setting up of the private industries. It was expected that both the public and the private industries would play an important role in the development of the country’s economy.
The Second Five Years Plan laid emphasis on the development of heavy industries like steel. Stress was also given to the building of large dams. These were to remain under the control of the government. However, this approach of the Second Five Year Plan was criticised on the grounds that it did not give adequate emphasis on agriculture and it also neglected primary education.
Explanation:
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