plzz write limitations for project topic on critique of industrialization in Britain
Answers
Poor Capital Formation:
Poor rate of capital formation is considered as one of the major constraint which has been responsible for slow rate of industrial growth in India.
2. Political Factors:
During the pre-independence period, industrial policy followed by the British rulers was not at all favourable for the interest of the country. Thus, India remained a primary producing country during 200 years of British rule which ultimately retarded the industrial development of the country in its early period.
3. Lack of Infrastructural Facilities:India is still backward in respect of its infrastructural facilities and it is an important impediment towards the industrialization of the country. Thus in the absence of proper transportation (rail and road) and communication facilities in many parts of the country, industrial development could not be attained in those regions in-spite of having huge development potentialities in those areas.
4. Poor Performance of the Agricultural Sector:
Industrial development in India is very dependent on the performance of the agricultural sector. Thus, the poor performance of the agricultural sector resulting from natural factors is also another important factor responsible for industrial stagnation in the country.
Agriculture provides not only raw materials and foodstuffs hut also generates demand for the goods produced by the industrial sector. Thus, this poor performance of the agriculture retards the development of industries in India.
5. Gaps between Targets and Achievements:
In the entire period of planning excepting 1980s, industrial sector could not achieve its overall targets. During the first Three Plans, against the target of 7, 10.5 and 10.7 per cent industrial growth rate, the actual achievements were 6, 7.2, 9 per cent respectively. Since the Third Plan onwards, the gap between the targets and achievements widened.
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It is only during the Sixth and Seventh Plan, the industrial sector could achieve its targets. Again in first part of 1990s the industrial sector again failed miserably to achieve its target. This trend is all along against the smooth industrial development of the country.
6. Dearth of Skilled and Efficient Personnel:
The country has been facing the problem of dearth of technical and efficient personnel required for the industrial development of the country. In the absence of properly trained and skilled personnel, it has become very difficult to handle such highly sophisticated computerized machineries necessary for industrial development of the country.
Moreover, inefficiency and insincerity of those personnel engaged in industrial sector has been resulting in huge wastage of resources of the industrial sector. Moreover, social factors like immobility of labour and capital and lack of proper initiative and enterprises on the part of people of India are also highly responsible for this slow pace of industrialisation in the country.
7. Elite Oriented Consumption:
In recent years, a strong tendency to produce rich men’s goods has been established among the large industrial houses. Accordingly, the production of “white goods” like refrigerators, washing machines, air conditioners etc. expanded substantially along with the other luxury products.
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But the production of commodities for mass consumption has recorded a slow growth rate. This clearly reveals a ‘distortion of output structure’ of Indian industries, resulting in a recessionary tendency in the market of these luxury products in recent years.
8. Concentration of Wealth:
The pattern of industrialisation in the country has been resulting in concentration of economic power in the hands of few large industrial houses and thus flailed to achieve the objective of planning in reducing concentration of wealth and economic power. As for example, Tatas with 38 companies substantially increased their assets from Rs. 375 crore in 1963- 64 to Rs. 14,676 crore in 1991-92.
The assets of Birlas also increased from Rs. 283 crore in 1963- 64 to Rs. 6,775 crore in 1990-91. Similarly other large business houses are also multiplying their assets at a very faster rate and are tightening their stronghold on the economy.
9. Poor Performance of the Public Sector:
In-spite of attaining a substantial expansion during the planning period, the performance of public sector enterprises remained all along very poor. A good number of such enterprises are incurring huge losses regularly due to its faulty pricing policy and lack of proper management necessitating huge budgetary provision every year. Thus, the public sector investment failed to generate required surpluses necessary for further investment in industrial sector of the country.