Why is India called adeveloping country?
Answers
Though you cannot say this....
India is developing country....
There a very big project called Dholeara Smart city....so , India is developing....
Answer:
(i) Increase in Net National Product:
According to the CSO (Central Statistical Organization), India’s net national product at factor cost (NNP at FC), i.e. national income was only Rs 1, 32,367 crores in 1950-51 increased to Rs 12,66,005 crores in 2003-04. During the last two decades the national income has increased significantly to 5.8 % per year compared to 3.4% in first three decades. NN. estimates of first two years of 10th Fiver year plan are available. In these two years NNP rose at the rate of 6.5% per year although the growth rate was not adequate still it reflects some sign of improvement in terms of NNP at FC.
(ii) Increase in Per Capita (Per Head) Income:
Increase in per capita net national product at factor cost (per capita income) is considered to be far better index of economic growth. For this reason the planners of Indian economy want to progress the economic growth in terms of per head income.
According to 1993-94 prices, Indian’s per capita income in 1950-51 was Rs, 3,687.1. In 2003-04, within the five decades the per capita income rose to Rs 11,798.7, Although the Planning Commission expected that the per capita income of India would be doubled in twenty years.
However this is an over-optimistic view without any basis. Over twelve years since 1992, the per capita income increased at a rate of 4.2% per year. In the first two years of 10th Five Year Plan per capita NNP at FC increased at the rate of 4.7 per year. However, the overall performance throughout the planning period was not adequate due to long past colonial exploitation.
(iii) Rise in Capital Formation:
According to Simon Kuznets, “Capital formation is necessary condition for economic productivity and growth.” Rise in capital formation leads to increase in the growth of primary, secondary and tertiary sectors. During the planning period the gross domestic capital formation had increased from 8.7% in 1950- 51 to 26.3% in 2003-04.
(iv) Industrial Growth:
In India there are no such uniformity during the plan periods as far as industrial growth is concerned. Indian industries during the Third Five Year Plan observed a decent growth of about 8%), but thereafter industrial stagnancy took place. In 1976-77, the growth was abnormally high, but it decreased steadily during 1979 80. Again, it rose up during 80’s, According to Economic Survey, the average] annual industrial growth rate in India which was 5.6% in First Fiver Year Plan had increased to 8.6% during The Tenth Fiver Year Plan.
(v) Agricultural Progress:
The impact of new agricultural policy, i.e., green revolution, had increased our FoodGrain production substantially from 81.0 million tonnes in the Third Plan (annual average) to 212.0 million tonnes in 2003-14. Wheat production increased from 11.1 million tonnes in 2003-04. The average annual production of rice rose from 35.1 million tonnes in Third Five Year Plan to 87.0 million tonnes in 2003 04.
(vi) Rise of Social Over Head Capital:
Social overhead capital includes transportation, irrigation, energy production, education, medical facilities etc. During the overall planning period these sectors had increased considerably.