Question

Indian economy on the eve of independence ..??

(Quality answer needed)​

Answer 1

Indian economy on the eve of Independence had following features..

• stagnant economy there was little or nominal growth in income as from 1925 to 1950 it was 0.5 per annum.
• vicious poverty maximum population of India was living in poverty , lack of sanitation , in scarcity of food.
• limited urbanisation only 14 percent of Indian population was living in urbanised area.
• semi feudal economy India had mixed economy because of which there was slow growth of indian economy. problem was also with administrative structure.
• fragmented land holdings this was the major drawback for Indian agriculture as no modern method could be used in such a small patch of land.

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