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.
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.
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