Sixty Years of the Indian Economy 1947 to 2007: A Comprehensive Description and Analysis of Developments in Various Sectors of the Indian Economy Since Independence (In 2 Volumes)
Synopsis
At the time of independence in 1947, India was a typically backward economy. Owing to poor technological and scientific capabilities, industrialisation was limited and lopsided. Agricultural sector exhibited features of feudal and semi-feudal institutions, resulting into low productivity. Means of transport and communications were underdeveloped, educational and health facilities inadequate, and social security measures virtually non-existent. In brief, poverty was rampant and unemployment widespread, both making for low general standards of living. These were the socio-economic settings under which the founding fathers had to chart out a programme of nation-building. In their collective wisdom, they adopted the middle course of a mixed economy, assigning a pivotal role to public sector and economic planning. This new approach to economic and social development was set within a framework of parliamentary democracy guaranteeing universal franchise. India began the process of planned economic development with the start of the First Five Year Plan in April 1951. Since then the country has completed ten Five Year Plans and the implementation of the Eleventh Five Year Plan (2007-12) is underway. The economic history of post-independence India is a mixed experience of achievements and failures. After 60 years of development efforts, India is presently one of world's fastest growing economies. In the last few years, it has emerged as a global economic power, the leading outsourcing destination and a favourite of international investors. This book provides a comprehensive description and analysis of developments in various sectors of the Indian economy since independence. It particularly focuses on reform measures undertaken since 1991. The work puts in perspective the emerging lessons for the future. Year-wise (1947-48 to 2006-07) review of developments in leading sectors of the economy is another key feature of the book. It also provides time-series data on Indian economy. The book is designed to interest a cross section of readers, viz. teachers and students of economics, commerce, law, public administration, business management, chartered accountancy and company secretaryship. It will also serve the needs of legislators, business executives, entrepreneurs and investors, and others interested in the developments in the Indian economy.
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Bibliographic information
C.S. Prasad
Anup Chatterjee