Thursday, 23 July 2015

INDIAN ECONOMY AT THE TIME OF INDEPENDENCE

Contradictory to the devloping, flourishing Indian Economy that we see today, it had a completely different scenario during the year 1947. It's quite interesting to learn about how our county's economy went on from being 'nothing' to becoming 'something'. Various initiatives, movements, policies and several other factors were involved in making our economy what it is today.
                         Focussing on the economy during independence, the main points highlighted are the agricultural sector, industrial sector, foreign trade, demographic condition, occupational structure and infrastructure. During independence Indian agriculture became non vibrant, stagnant and backward. Unemployment, underemployment, subdivisions of landholdings, land tenure system, zamindari system, etc. all accounted to the low level of productivity. Also what was even more depressing was the 80% of total india's population dependent on the sector which saw no growth. Like this sector, industrial sector too was crying off for development. The state of infrastructure facilities especially in the field of transport, communication and energy were very poor although one positive contribution by the britishers was the introduction of railways. It was introduced in 1850 and India began operations in 1853. The two main features of the occupational structure during the time of independence was that only 10% of the population were engaged in manufacturing sector and 15%-20% were with service sector and there were growing regional variations.
                       Such was our economy at that time. It's commendable to see how long have we come and also how long we still have to go.

Thursday, 16 July 2015

DIGITAL INDIA: STEP TOWARDS THE ECONOMIC GROWTH

                                         Yes, the Government Of India has come up with this innovative campaign to speed up the economic growth. This campaign aims at ensuring the government services are made available to citizens electronically by reducing paperwork. The project is slated for completion by 2019. It;'s initiatives like these which give hope for the betterment of the country among the youth. It motivates the youth to put in their best efforts to contribute for the growth of the economy.
                                         But, we must not forget the saying 'Not everything that sparkles is gold'. Although the campaign is designed in a way that attracts a lot of attention and promises for economic growth but if a close look is to be taken, we would find that the infrastructure and funding challenges are huge. Also, it is not hidden that India has poor regulations in the field of privacy protection, data protection, cyber law, telegraph, e-governance, e-commerce, etc. But again, success is not a straight road and is achieved by only those who are persistent of travelling it inspite of difficulty.
                                          So, concluding on a positive note, all should express their faith in such a sincere campaign by our government, The initiative will empower India by utilising the technology to the foremost. I have not the least doubt that the leaders of the industry from the world over present here wanting to invest billions and billions of dollar in this field, new job creation will take place and take india to much greater heights.