Independent India opted for mixed economy
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A: First of all please see Nagarajan Anna’s answer to this question, he certainly has more experience than me, though i don’t agree with the view that he has presented, i liked the answer’s
In my opinion, it is Leadership that defines how well, or how badly an organisation performs. Alan Clark a military writer popularised the term “Lions led by a Donkey” showcasing how an army of Lions led by a Donkey is defeated by an army of Donkeys led by a Lion.India actually did not get a “Mixed Economy” but actually got a “Socialist Economy” rightly called by Rajaji as the “Licence-Quota-Permit Raj” in his speech, a gist of which is presented below-
“I want the corruptions of the Permit/Licence Raj to go. [...] I want the officials appointed to administer laws and policies to be free from pressures of the bosses of the ruling party, and gradually restored back to the standards of fearless honesty which they once maintained. [...] I want real equal opportunities for all and no private monopolies created by the Permit/Licence Raj.”
Rajagopalachari or Rajaji as he was popularly known alongwith Sardar Patel were the only 2 proponents of “Free markets” in Independent India in 1947, unfortunately Patel was too busy with “Unification” process to speak on economic policies and soon died in 1950, Rajaji got sidelined by the Congress party which resulted in only the Whims and Fancies of one man- J.M. Nehru to take precedence over all.Nehru was a member of the “Fabian Society in England” (Fabian Society ), he was also greatly enthralled by the USSR and sceptical of “Free market economics” as practised by USA as he was a known opponent of American policies and politics.In 1929, he made a statement that he was- Socialist and Republican. He was a proponent of “Planned economics” alongwith cronies such as PC Mahalanobis (a straw man whose own PhD has been proved to be copied by Subramanian Swamy, despite which this man refused to resign his post); Nehru distrusted the “Hindu Bania” with the disdain of the English upper-classes for the mercantile classes and never changed his opinion despite Gandhi being a Bania and liking many of Bania policies and the Banias helping the Congress party with funds during the freedom struggle.“The Americans are either very naïve or singularly lacking in intelligence,” he wrote to his sister. See more here - Nobody Should Visit America the 1st Time, Said Nehru Sardonically. This attitude at once, patronising and dismissive of the greatest economic and military power of the world in the late 1940s, when India was newly independent and needed American Food for basic survival and American scientists like Norman Borlough were primarily responsible for the “Green Revolution in India in the 1970s”.
Fun Fact 1 - India received PL480 Wheat right upto the mid 1960s despite the strained relations diplomatically and America backed India in the “Chinese War” whereas Russia sold us “Substandard equipment at exorbitant prices”
The “economy of India was in shambles theory is to a certain extent true” but all of Europe, Japan, China, South-East Asia, Korea, Taiwan, Middle-East, Africa etc were in even more terrible state, except the North American continent all continents had been ruined by the Second World War
Fun fact 2- Suppose you have Rs. 100/- with you to invest (i am not taking into account Inflation in this example right now) and you achieve growth of 3.5% p.a for 40 years, end of 40 years your Rs. 100/- will become approx. Rs. 400/- but if you grow at 10% p.a. then the Rs. 100/- you had invested would have become nearly Rs. 5000/- (don’t trust me, go online and verify).
The “Hindu rate of growth” is further ironical due to the fact that Nehru was an atheist who called “Gigantic Dams” like Bhakra-Nangal as a temple of modern India, this itself was inspired by similar Stalin era projects of the USSR.
In my opinion, it is Leadership that defines how well, or how badly an organisation performs. Alan Clark a military writer popularised the term “Lions led by a Donkey” showcasing how an army of Lions led by a Donkey is defeated by an army of Donkeys led by a Lion.India actually did not get a “Mixed Economy” but actually got a “Socialist Economy” rightly called by Rajaji as the “Licence-Quota-Permit Raj” in his speech, a gist of which is presented below-
“I want the corruptions of the Permit/Licence Raj to go. [...] I want the officials appointed to administer laws and policies to be free from pressures of the bosses of the ruling party, and gradually restored back to the standards of fearless honesty which they once maintained. [...] I want real equal opportunities for all and no private monopolies created by the Permit/Licence Raj.”
Rajagopalachari or Rajaji as he was popularly known alongwith Sardar Patel were the only 2 proponents of “Free markets” in Independent India in 1947, unfortunately Patel was too busy with “Unification” process to speak on economic policies and soon died in 1950, Rajaji got sidelined by the Congress party which resulted in only the Whims and Fancies of one man- J.M. Nehru to take precedence over all.Nehru was a member of the “Fabian Society in England” (Fabian Society ), he was also greatly enthralled by the USSR and sceptical of “Free market economics” as practised by USA as he was a known opponent of American policies and politics.In 1929, he made a statement that he was- Socialist and Republican. He was a proponent of “Planned economics” alongwith cronies such as PC Mahalanobis (a straw man whose own PhD has been proved to be copied by Subramanian Swamy, despite which this man refused to resign his post); Nehru distrusted the “Hindu Bania” with the disdain of the English upper-classes for the mercantile classes and never changed his opinion despite Gandhi being a Bania and liking many of Bania policies and the Banias helping the Congress party with funds during the freedom struggle.“The Americans are either very naïve or singularly lacking in intelligence,” he wrote to his sister. See more here - Nobody Should Visit America the 1st Time, Said Nehru Sardonically. This attitude at once, patronising and dismissive of the greatest economic and military power of the world in the late 1940s, when India was newly independent and needed American Food for basic survival and American scientists like Norman Borlough were primarily responsible for the “Green Revolution in India in the 1970s”.
Fun Fact 1 - India received PL480 Wheat right upto the mid 1960s despite the strained relations diplomatically and America backed India in the “Chinese War” whereas Russia sold us “Substandard equipment at exorbitant prices”
The “economy of India was in shambles theory is to a certain extent true” but all of Europe, Japan, China, South-East Asia, Korea, Taiwan, Middle-East, Africa etc were in even more terrible state, except the North American continent all continents had been ruined by the Second World War
Fun fact 2- Suppose you have Rs. 100/- with you to invest (i am not taking into account Inflation in this example right now) and you achieve growth of 3.5% p.a for 40 years, end of 40 years your Rs. 100/- will become approx. Rs. 400/- but if you grow at 10% p.a. then the Rs. 100/- you had invested would have become nearly Rs. 5000/- (don’t trust me, go online and verify).
The “Hindu rate of growth” is further ironical due to the fact that Nehru was an atheist who called “Gigantic Dams” like Bhakra-Nangal as a temple of modern India, this itself was inspired by similar Stalin era projects of the USSR.
geetaspgsp:
Please give short answer
u can pick some imp points from these paragraph
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