Question

what was the impact of stagnation of indian economy

Answer 1

Explanation:

hi

The Indian experience since independence seems to be in flag)art contradiction with the orthodox ... the 'Gerschenkron effect

Answer 2

Explanation:

The Indian experience since independence seems to be in flagrant contradiction with the orthodox Western theories of economic development, e g, Nurkse's vicious circle of poverty. Arthur Lewis' idea on the transition from a 6 per cent to a 12 per cent saving investment rate being the key to economic development, the two-gap model justifying large inflows of foreign governmental or private capital, etc. Over the long haul and on a per capital basis primary output has declined while secondary output has increased to an equivalent extent so that NMP has remained stable. Tertiary output and NDP have generally gone up. These are true irrespective of the base year prices chosen, i e, those of 1960-61 or 1948-49 or 1938-39

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