what is the economic strategy of India after independence
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India emerged from colonial rule as a free nation in 1947. It soon set about the task of developing its economy and raising the standards of living of its people in right earnest. The major ‘project’ that India embarked upon has been called nation building, economic development and transformation is an integral part of that project.
When India became free, it inherited a set of institutions and policy framework from earlier times. Also the economy was at a low level of development. Given this level of development, given the institutional framework of the economy, and with the instruments and resources at its disposal, the policy makers devised a set of strategies to push forward the growth and development of the economy.
The basic strategy of development adopted in India was the following. Ever since Independence, a rapid rise in national income and in the standard of living has been the stated goal of development.
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When India became free, it inherited a set of institutions and policy framework from earlier times. Also the economy was at a low level of development. Given this level of development, given the institutional framework of the economy, and with the instruments and resources at its disposal, the policy makers devised a set of strategies to push forward the growth and development of the economy.
The basic strategy of development adopted in India was the following. Ever since Independence, a rapid rise in national income and in the standard of living has been the stated goal of development.
plzz Mark as brain list
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