4 Chapter 1 INDIAN ECONOMY ON THE EVE OF INDEPENDENCE = Goo Us a of Overall Features of Indian Economy on the Eve of = “Independence == of State of Agricultural Sector = of industrial Sector = & Foreign Trade ef Demographic Profile &f Occupational Structure & Infrastructure = FOCUS The chapter focuses on features of the Indian economy on the eve of independence, and the way it suffered colonial exploitation at the hands of the British Government in India. It describes the state of agriculture, industry and trade, and the way these sectors were exploited under the British rule. Consequent upon their exploitation the Indian economy lost its momentum of growth. It became both backward and stagnant. Demographic profile of the country witnessed ‘1921’ as the year of Great Divide, after which country’s population recorded a consistent rise. Huge dependence on primary sector was the undercurrent of occupational structure. Infrastructural development continued to be a weak link, though introduction of Railway (1850) was a notable break-through. 1. OVERALL FEATURES OF INDIAN ECONOMY ON THE EVE OF INDEPENDENCE The main goal of British rule in India was to transform our economy into a supplier of raw material and a market for sale of British manufactured goods. Accordingly, all measures undertaken by them had this underlying objective in mind, Before the Advent of British Rule Prior to the British rule, Indian economy was a vibrant and prosperous economy. On the agricultural front, it was a self-contained rural economyIndian Econamic Development on esc ca Ives were the owners of land. Industrial sec A where cultivators themsel i z : (3) Dow! was famous throughout the world for its handicraft products. Our expo, @) i f econo njoyed global reputation. The silk and cotton textiles were famous for the, ae Read the news headtine ea ie and the metal & precious stonework were famous for Xcellen, ae Na eewanenmemne fine ‘Ses ttows craftsmanship. ws verte at soe eee redo econry hn een : : ie sceamemsserns 1 During British Rule The sGoPot st ¢ 27 Wome {ete tine of Independence © ow siting lose 0150 ath Gore Once branded 3" ed the be fas But the advent of the British rule marked the ginning of @ stema Pater exploitation of the Indian economy. The agricultural sector was exploiteg Indic woracareynaaisnow Ho. 4 source of revenue. The industrial sector was destroyed by exploiting ay Seewotsraveenom [the domestic market for the British products. Export of raw material wae ; neo ercruarore:’ ff encouraged to promote supplies to the British industry. Import of British byt Somcestancaiowesscom F soods was encouraged to give impetus to the industrial revolution then a SSesepwnetarsvetes [happening in Britain. eo above hint toward the indian : Hes onomy benotabetedas® ff Ouving to the systemic exploitation of the agricultural and industrial sectors (9) es : 0 eeotmarpdene” | and restructuring of India’s foreign trade in favour of the British economy, are foe sioreecremit India changed from a vibrant economy to a stagnant and backward economy, Fe ee Thus, on the eve of independence, overall features of the Indian economy a were as under: Be (0) Stagnant Economy: On the eve of independence, Indian economy was. oy completely a stagnant economy. A stagnant economy isthe one Which © shows little or no growth in income. re The British government never attempted to estimate India’s national and in per capita income, However, Dadabhai Naoroji, William Digby, Findlay 5 Shirras, V.K.R.V. Rao and R.C. Desai were some notable individuals who attempted to estimate India’s national and per capita income. Of iE course, these estimates yielded conflicting results. (7) S Most of the estimates reveal that the country’s growth of aggregate real a output during the first half of the twentieth century was less than 2 per cent and growth in per capita output per year was a meagre 0.5 per cent. 1 ‘ie t Standard of living of people was miserably low. Epidemics and famines were a recurring phenomenon, J (2) Backward Economy: Indian economy was a backward economy on the Brieft eve of independence. An economy is called a backward economy when it du has a very low per capita income. a to the |n 1947-48, the per capita income in India was just € 230, rally Thebulk ofthepopulation was very poor, and shelter, handicraft i withoutsufficientfood,clothing proce ‘Widespread unemployment (caused by the destruction of the P industries) was an important factor contributing to poverty. athe| S2ctop “Ports, °F theiy cellent ploitea loiting al was British 1 then ectors nomy, omy. nomy y was which and ndlay duals e. OF > real 2 per cent. ines 1 the en it Indian Economy on the Eve of independence fp Dominance Of Agriculture: Abies inal maar dominate the Sadia econom’ Nearly 72 per cent of agriculture. However 50 per cent, indicating the ba his sector suffered from low productivity, owing to which it had low contribution to GDP. ¥y as the principal source of livelihood he country's working population was engaged in the contribution of agriculture to GDP was only ackwardness of this sector. wn: Prior to the British rule, industrial sector in (4) Bleak Industrial tndia was well-known for handicrafts. But it was systematically destroyed by the discriminatory British policies. By the time ‘of independence, small-scale and cottage industries were almost ruined, Heavy industry showed a bleak growth, and for the bulk of capital foods requirements, we were dependent upon imports from Britain {@) Heavy Dependence on Imports: The country was heavily dependent upon imports, particularly for machinery and related equipment of production. ‘Armed forces of the country also depended heavily on foreign imports for most of the defence equipment. Besides, several consumer goods like sewing machines, medicines, kerosene oil, bicycles, etc., used to be imported from abroad. (6 Limited Urbanisation: At the time of independence, bulk of the population of India lived in villages. In 1948, only 14 per cent of population lived in urban areas while 86 per cent lived in rural areas. Rural population lacked opportunities outside agriculture, This compounded their poverty. (7) Semi-feudal Economy: On the eve of independence, Indian economy was neither wholly feudal nor a capitalist economy. twas mixed economy or a semi-feudal economy. Such an economy had the mixture of feudalistic and capitalist modes of production. Feudalistic mode of production leads to low productivity. Low productivity leads to backwardness. Briefly, we can state that on the eve of independence, Indian economy Wes characterised with low level of economic development. It was developed only to the extent it could serve the colonial interest of the British government. If railways, ports, post and telegraph were developed, this was to promote the process of colonial exploitation of the Indian economy. It was directed towards the protection and promotion of the economic interest of the British economy rather than the Indian economy. = PaIndian Economic De' syelopment RICULTURAL SECTOR Indian economy was primarily an agrgy, f the population derived its livelihoog 2. STATE OF AG we of independence, " per cent of = hich reflects the importance ofthis sector in the ng whi hig sector suffered from deep stagnation and ch, pee pal features of the Indian agri, On the economy. ‘Around 72 the agriculture sector economy. However, = bi enna Following were the princij on the eve of independence: ivity ,duction and Producti @ Les paar eer to output perhectare ofland. Both (producig, whil a productivity) were found to be extremely low on the eve yp independence. This was a result of the lack of means with the farmer, nig Ulta rroduction refers to total oy, and lack of incentive to the tillers of the soil. ‘Table I shows production and productivity levels in 1947 for wheat ang rice, compared with their levels in 2020-21. ‘Table |, Production and Productivity of Wheat and Rice- A Comparison between the Levels in 1947 and 2020-2) Productivity Production (kg per hectare) (in lakh tonnes) Crop 1947 2020-21 1947, 2020-21 1. Wheat 660 3,464 64 1,095, 2. Rice 665 2713, 220 123 | {Source: (i) D, Bhattacharya: Economic History of India, Economic Survey 2021-27} Table 1 shows that productivity of wheat was nearly 5.2 times lower in 1947 compared with its level in 2020-21. Productivity of rice was nearly 4 times lower in 1947 compared with its level in 2020-21. Productivity continued to be low despite the fact that area under caltivation tended to expand (owing to pressure of population). Likewise, level of output of wheat was nearly 17.1 times lower, and that of rice was nearly 5.5 times lower in 1947 compared with their levels in 2020-21. 2) Exploitative Land Settlement System: in India introduced a unique system of la triangular relationship among the governme: the tiller of the soil. This was popular Land Settlement and was Particularly The British government ind settlement. It set-up @ nt, the owner of the soil and ly known as zamindari system of implemented in the then Bengal ia's present-day eastern states), ere as these: Presidency (comprising parts of Indi The distinct features of this system wi «7 Gi" ii) The farmarian From iag Oni Iture ut, tion re of ers, 22) “in rly der @) Indian Economy on the Eve of Independence which implied that the rue to zamindars instead of the cultivators. OUCH sae Te Caneleve ty Tray eed fam eo tne govermeot snd eta epee aoe ees baie to ace! (i) The zamindars were revere. ract as much from the tillers of the est of the zamindars was to he plight of the tillers. The indars were free to ext xy could, In fact, the only inter collection, ignoring th ing to improve the condition of agriculture. ) The am soil as they maximise revenue ‘camindars did nothi (ii ons of the land settlement system were alarming for the .e farming, Most importantly: mited exploitation of the tillers of the soil b The implicati farmers and th It led to unli zamindars. Jand revenue were frequently raised by the 2 of the soil, 4 yy the am Rates of amindars which Jed to frequent eviction of the tillers ag Tillers were reduced tothe status of landless labourers Fanning, even though it was the principal source of livelihood, was a duiven to deep backwardness and long period stagnation: ae iercon oem er aeeaaecT! severe shortage of food Forced Commercialisation of Agriculture: agriculture refers to a shift from subsistence cultivation (cultivation for (owing to crop failure) : i" resulting in violent velf-consumption) to cultivation of cash crops for the market. Farmers unger and starvation. ps to cope with the needs of the m From 760.1943, India was hitby terrible famines on.a regular bass. ee 8 ‘a Y amongst those was the were forced to grow commercial cro) British industry. Following are some notable points in thi Farmers were forced to shift to produce i ‘is context: . the textile industry in Britain for dyeing/bleaching of the textile. The great famine ian feemers were either lured or forced to accept advance payments for 1769-70, which claimed a the cultivation of indigo. rgpeceaIS ‘ww More than 85 million 1a Production of commercial crops exposed the subsistence farmers ‘0 people died owing t0 uncertainties of the market for their own subsistence. repeated famines. a ‘ww In contrast, there tn Switching from subsistence to cash crops raised credit meeds of the have been no famine related deaths since farmers which led to their perpetual indebtedness, Lack of Investment in Agriculture Infrastructure: The colonial government or zamindars took no interest in promoting investment in agricultural infrastructure. Permanent means of irrigation heavily dependant on rainfall and tain, Flood-control, drainage and \d have led to increased productivity were a far cry. Agriculture wai therefore continued to be unce de-salination of the soil which coul of the sector, were totally neglected.‘conomic Development A Tillers of the Soil: Agricultury dd by a huge gulf between ‘owner, f the soil’ on the other, ween Owners of the Soil an: Oe .s characterise’ jaring the British Raj was characterise’ Fi Theol’ on the one hand and ‘llr ee ot hared the output, they seldom y) shared the While the owners share cerely interested in maximising thej, mn, They were m foutput). given enough for subsistence cost of productio: : rental income (in terms of share soil were merely or did not have resources to invest while the ‘Thus, the tillers of the soil ee ‘Stagnation an ‘owners had no interest. ‘Stagnation was the obvious consequence Indebtedness of Tillers of the Soll and Conspicuous Consumption of Owners of the Soil ar Cons le, while tillers of the soil confronted absolute poverty and accept ish rule, Gere tee ite sof the soil indulged in conspicuous consumption. of life, the owner @ The tillers of the soil viewed it as a hereditary source of income without investment. (6) Small and Fragmented Holdings: Landholdings were both small as ‘well as fragmented. [Fragmented holdings mean a piece here anda piece 3, IN there]. Accordingly, most landholdings were uneconomic: yielding low syster output at high cost. sector (7) Subsistence Outlook: Farming was taken mostly as a means of men subsistence. Subsistence farming is « form of farming in which the crops se are produced to provide for the basic needs of the family. ee There is little surplus left for sale in the market. Implying a lack of rece seortngy haces pe ne se ‘The partition of the dominated. hada. i pee ciate Briefly, on the eve of inde endence, Indian agriculture was both backward as impact on Indian 'Y; pt ig) agriculture, well as stagnant (non-vibrant). Backwardness of agriculture is explained in see Pieser, terms of these characteristics of agriculture on the eve of independence: ce qateffedgrinares. (i) Low production and low productivity, @ Rich food. i re (i) Lack of investment in the agriculture infrastructure, (ii) Small and fragmented holdings, and (iv) Subsistence outlook. . The Stagnation of agriculture is explained in terms of these characteristics of the ¢ agriculture on the eve of independence: a y @) Exploitative Land Settlement System under the British Raj, (ii) Forced commercialisation of agriculture, and (iii) Gulf between the Owners of the soil and the tillers of the soil.Indian Fconomy on the Eve of Independence me jod Agriculture i ricuttu os pre-riish Period Aa! rocks stagnant aed non-vibram ai salture aac the British Raj sharply contrasted with the the gre-Briish period agriculture, leir fn Prior to the Br itish Raj in India, rural India was Rooted as a system of self-contained village detente. These village communities included fpamers and the functionaries. Eg ta The farmers were engaged in oP farming or while the functionaries would eee a cattle. farmi cat essential services ike that of Blacksmiths igemiths, washermen and shoe-makers. Mechanisation (Pre-British Period) gol There were NO intermediaries (like zamindars) between the state and the farmers) the farmers 1 would pay land revenue directly to the king. tw Prosperity and stability were the key characteristics of life in rural India, Thus, the French I praler, Bernier, described Bengal in 17th century as “richer than Egypt” producing amply for jaf-consumption and exporting in abundance, = 3, INDUSTRIAL SECTOR ce 7 sematiede-industrialisation isthe term that describes the stars ofindustrial sector during, the British rule. ‘The textile industry of India ° f | syemotive behind the systematic de-industralisation during the British Rule he ee ery ps Jeccai Muslin’ fo : jn India was two-fold: in Bengal, in places near , aka (present capital : ta To exploit India's wealth of raw material and primary products Oe | : (like cotton and jute) It was required to fulfil the emerging needs over the world as the finest v sfindustral inputs in the wake of industrial revolution in Britain. cotton textile. Malmal was the Bnest variety of muslin tr To exploit India as a potential market for the industrial products of and was primarily worn by as Ears royalty giving ic the name . ee ‘of malmal shahi or malmal has. This systemic de-industrialisation led to: m Decline of the handicraft industries and the consequent massive unemployment. The penetration of British goods in the Indian markets. The poor state of the industrial sector during the British rule is highlighted by f | the following points: (1) Decay of Handicrafts: Before suffering the decay during the British Raj, handicraft in India enjoyed a worldwide reputation for excellence and quality, The main reason for the decay of the handicraft was the discriminatory tariff policy of the State. 5 aIndian Economic ¢ 0s tn Q) evelopment Thus, the Indian craftsmen started losing their domestic markets and , eventually, perished Bleak (Notional) Growth of Modern Industry: Under the ‘British Raj, modern industry saw only a bleak growth. It was only in second half of the 19th century that the modern industry showed its emergence. Five observations need to be noted in this regard: (i) Initially, cotton and jute textile mills were ‘set-up. Cotton textile mills were located in western India, mainly in Maharashtra and Gujarat and were mainly controlled by the Indians. Jute textile industries were concentrated in Bengal and were primarily controlled by the foreigners, (Gi) In the beginning of twentieth century, iron and steel industry came up and Tata Iron and Steel Company (TISCO) 1997. After World War Tl, cement, paper and started coming up, was incorporated in sugar industries also Gia) The go° wh Gv) Co G ¢ i x me rior to British Rule vin Handicrafts of Worldwide Reputation prior to British ae “The British rule in India coincided with industrial revolution in Britain w ‘The British found India as the best source of raw material a5 Well asthe a be = market for their industrial products. Accordingly, a discriminatory Is tariff policy was pursued. It allowed: Sa Saye tm tariff-free export of raw material from India, an eee tm tariff-free import of British industrial products into India ere But, at the same time, heavy duty was placed on the export of Indian gover handicraft products which reduced their competitiveness in the the B international market. () Mod Asaconsequence, while the British products started penetrating the Indian to.th markets, the Indian handicraft products started losing their domestic as fort ‘well as foreign market. Decay of handicrafts was the end-resul. ye The Indian handicrafts also faced tough competition from the machine- a made British products, which were better in quality and precision than.) yy the Indian products. ne The pattern of demand of Indian consumers also changed, as more the people, under the influence of British culture, took to western lifestyle. a 4. FO India ha The Ro rule in | Prior te (such a Precion materi of trad State c terms Qt fEE Indian Economy on the Eve of Independence (i) There was hardly any capital goods industries in India. Capital goods industry produces goods like machines and industrial plants which are used for frther industrialisation Gv) Contribution ofthe new industrial sector in the Gross Value Added (GVA) or Gross Domestic Product of the economy remained extremely low. (9) The state participation in the process of modern industrialisation ain, was limited, It was confined only to the strategic areas (like railways the and means of communication) which helped expansion of the ory Indian market for the British products. priefy, industrial sector on the eve of independence revealed four core iparacteristics pointing to its backwardness and limited growth (i) Handicraft industry was systematically destroyed by the British lan government. It was largely owing to the discriminatory tariff policy of he the British government. {g) Modern industry showed a bleak expansion. It was by andlarge restricted an tothe expansion of railways. It helped expansion of the Indian market for the British products. B (ii) Capital goods industry (which is the core element of industrial growth) a was almost non-existent. Eo B® TEASER 2n jy) While the traditional Indian industry andicrafts}were decaying, modern industry remained in an infant stage. This again pointed to ‘Read the news headline : > I en stow and answer the re the backwardness of the Indian economy with little or no evidence of en tat FOUoHE 18 “Prime Minister Narendra ‘Mod set an ambitious target of making india a dynamic change. id fe 4. FOREIGN TRADE Va erate h : ; snd boning domestic India bad acquired eminence inthe area of foreign trade, since ancient times monuacare * The Romans used to call India, “the sink of world’s bullion’. But the British soe eso | tulein India brought an end to it. Heo dependence ou Sed on pors elated ; Prior to the British rule, India was a well-known exporter of finished goods eal aay — ‘Ans. Defence goods and food ‘gains (such as fine cotton, silk, textiles, iron goods, wooden goods, ivory work and precious stones), But the British converted India into a net exporter of raw material and importer of finished goods. It was all due to discriminatory policy of trade and tariff pursued by the British government. State of India's foreign trade at the time of independence can be described in a terms of the following observations: . | (i) Net Exporter of Raw Material and Importer of Finished Goods: Due to exploitative colonial policies of trade and tariff, India became netver economic Development ™ Itis an artificial waterway running from north to south across Isthmus of Suez. in north- eastern Epypt ™ The canal provides direct trade route between European or American forts and ports located in (2). Monopoly Control of India’s Foreign Trade: During the British ruje South Asia, East Africa and Oceania by removing theneed to sll around Africa ™ Opening of Suez Canal in 1869 significantly reduced the cost of transportation of goods between Britain and India ™ A significant reduction in transport cost promoted monopoly control of India's foreign trade by the British government. ™ Colonial policy of the British government resulted in a monopoly control of India's foreign trade. Exports and imports were largely restricted to be between India and Britai India’s exports provided raw material to the British industry, while India’s imports provided a huge market for the British industry. These are typical characteristics of a backward economy. “oe SipATICr Of Taw materials and primary products (ike 78W silk, oy Wool, jute, indigo, sugar, et.) “Bes At the same time, it became net importer of finished goods Produ a by the British industry. Our imports included cotton, silk and Wook clothes, besides several types of capital goods produced in England Composition of exports and imports reflected utter backwardness of, the Indian economy. 5, DE! pemogt exports and imports of the country came under monopoly contro gy geagnant the British government. In this context, two observations are Of ctiticey (4) Bi significance: we = More than 50 per cent of India's foreign trade was directed towanis Hi Great Britain. The rest of the trade was directed towards Ching (9) tn Ceylon (Sri Lanka) and Persia (Iran). The control of Britain oye, th India’s foreign trade intensified after the opening of Suez Canal in e 1869. is ® While exports of primary products (raw material) from Indy == supplied inputs to the British industry, imports of finished goo, ds from Britain provided a huge market to the British industry. oF ‘ Gi 1 | iy 6 ie re pan aaa ‘ENsurplus Trade but only to Benefit the British: Surprisingly, during @ Huge administrative expenses were incurred by the British government to manage their colonial tule in India, Also, huge expenses were incurred by the British government to fight wars in pursuit oftheir policy of imperialism. m All these expenses were borne by the Indian Exchequer, = This implied a drain of India’s wealth, the British regime, our exports exceeded our imports. It implieda | (v surplus of balance of trade. But: = This surplus was owing largely to the export of primary goods | w (not the industrial goods) which is a sign of economic backwardness. Despite the surplus trade, supplies of several essential commodities like food grains, and clothes remained deficient in the domestic market. The trade surplus was not used for growth and development of the country. Instead, it was used to meet: G) administrative expenses of the British government in India, and (ii) expenses of wars fought by the British government. Administrative and war expenses led to a huge drain of wealth from. India. It compounded the backwardness of the Indian economy.Tule, ol of tical ards ‘ina, ver Ulin Indian Economy on the Eve of independence Guplus generated a balance of trade was only spent to meet administrative and war exyenses by the British government in India. fp These expenses led to a huge drain ‘of wealth as it was not used for investment. Consequently, povert 5. DEMOGRAPHIC PROFILE g the British rule exhibited all features of a ‘Population parameters: m Population census Both birth rate (BR) and death rate (DR) ne estimation of population cand Death Rate: hhigh-nearly 48 and 40 per thousand respectively. High BR and size, along witha complete demographic High DR suggest state of massive poverty in the country. profile ofthe country. Infant Mortality Rate: Infant mortality rate (death rate of children below m Itwas first conducted per 1000 live births) was very high. It was about 218per under the British rule @ At in 1881. Since then itis infant mortality rate conducted after every ten years. sy and backwardness were elevated. conditions durin; pemographic © ‘rd economy. Here, we focus on the following stagnant and backwa (1) Birth Rat were very @ the age ofone year thousand, while atpresent, it is33 per thousand, High sca sign of poor healthcare connected with extreme Poverty = | pollowing are some notable points relating to {@ Inthe history of demographic transition, i) Til1921, population growthin Indiawas never consistent. Size of none census and decreasing in the other. It's described as the fist stags howed a decline of 0.04 crore in total population DEMOGRAPHIC TRANSITION demographic transition in India: 1921 is regarded as the ‘Year of Great Divide’. population kept tuctuating, increasing e of demographic transition. (i) The census 1901 sI (from 23.87 crore in 1891 to | 2383 crore in 1901). | iv) The census 1911 showed a ris: (v) The census 1921 showed a dec (a After 1921, India entered the second stage of dermogra consistent rise. | (vy itis after this year that the total population in india Never declined; | census 1931 recorded a rise of 2.76 crore: the census 1941 recorded a rise of 3.96 crore: | recorded a rise of 424 crore, and s0 on. | (vil) A consistently rising population (on the eve of independence) led to excessive burden of maintenance on investment. It is an expenditure which a country has to incur on the maintenance of the existing | __ population. | (69 When maintenance investment is high, investme! | 6) High maintenance and low investment for GDP gr __ stagnation of the Indian economy. (xi) However, the underlying factis that till between mild to modest. It was because two was small. | (xii) It was only from 1951 onwards that the rise in population became explosive in nature, and the count started facing a serious challenge in terms of population explosion. Because, whereas birth ra continued to be high, death rate recorded a significant dectine. of 138 crore (from 23.83 crore in 1961 to 25.21 crore in 197). Line of 0.07 crore (from 25.21 crore in 1911 to 25.14 crore in 1921). phic transition when population recorded 2 it recorded a consistent rise: the the census 195) nt for GDP growth remains low. wth is another parameter of the backwardness anc n was never alarming; it range 1951, the rise in India's population high and the gulf betwee both birth rate and death rate were fIndian Economic Development expectancy (average life ofa person) was a, 3) Life Expectancy: Life expectant’ ars. Low life expectancy req” rable 2 y it is 69 egy T s, while present! er — facilities, lack of awareness as well as lack of meq 0) fl facilities, i lack of healthear‘ avail them. MS ty : ® High y yw Life Exp are important social indicators of backwardness ang)) = Mortlity Rate and Low Life Expectancy are iP ’ igh Mortali ) . De Seen famines and recurring epidemics were the prime causes behing, zi uring the British rule, frequent | publ gee oughts, epidemics occurred due to the neglect of public : fm While famines occurred largely due to drow) | health services. @) Literacy Rate: Literacy rate (referring to those who can read and wri) svas less than 16 per cent, reflecting social backwardness as a reflection g (2) economic backwardness. Female literacy rate was still worse—about 7 per cent, This indicated gender-bias in the society. 6. OCCUPATIONAL STRUCTURE Occupational structure refers to distribution of working population across primary, secondary and tertiary sectors of the economy. a Table 2 shows occupational structure of Indian economy at the time of independence. The data relates to 1951, because reliable statistics for the year 1947 are not available. Table 2. Occupational Distribution of India Pie-Chart at at the Time of Independence Occupation 1951(in ®) 1, Primary Sector m7 MM Primary Sector 72.7% (i) Agriculture 50.0 : MM Secondery Sector 101% | (i) agricultural Labour 197 0 TertiarySector 172% (ii) Forestry, Fisheries, Animal Husbandry, Plantation oa (iv) Mining 2.Secondary Sector 104 (v) Small and Large Scale Industries 9.0 (i) Building Construction rn 3, Tertiary Sector 172 (vii) Trade and Commerce oe (iii) Transport, Storage and Communication 14 (ix) Other Services 106 ig 100.00ects Sto te) of er ss of Indian Economy on the Eve of Independence: sable 2 offers the following observations: foe | ¢ Principal Source of Occupation: On the eve of Principal Source of Occupation: On th fe Crane denendeaeee pout 72.7 per cent of working population was engaged agriculture (as suggested () Agriculture independence, al i ith agriculture as its principal c : by occupational structure in primary sector with agric {Iture as its principal component. brain ; percentage of population dependent on agriculture is much less in implied lesser availability of land per head of the vanced councries of the world, Forinstance, in England and USA 2per farming sopulation. pan 12 per cent and in Germany 4 per cent of the population wm Accordingly agicuure cent, in Jay d on agriculture. ‘was taken largely asa Cape ‘means of subsistence, and This establishes backwardness of the Indian economy at the time of _lessas an occupation for independence. profit. Industry —An insignificant Source of Occupation: On the eve of independence, barely 9.0 per cent of the working population in India vas engaged in manufacturing industries, mining, ete. ‘as against it, 32 per cent in the USA, 42 per cent in England and 39 per cent in Japan are engaged in these activities. Itfurther proves how backward the Indian economy was at the time of Q) independence. {@) Insignificant Transition from Agriculture to Industry: The table shows unbalanced growth of the Indian economy. ‘Transition of workforce from agriculture to industry marks the economic'take-off. But in case of the Indian economy, it was by and large absent. There were some green shoots in the parts of Madras Presidency (comprising areas of present-day Tamil Nadu, Andhra Pradesh, Kerala and Karnataka), Bombay and Bengal. These areas witnessed an increase in manufacturing and services sector along with a decline in dependence on agricultural sector. But, at the same time, Odisha, Rajasthan and Punjab recorded an increase in workforce engaged in agricultural sector. On the whole, occupational structure of India (on the eve of independence) pointed to backwardness and lopsidedness of the Indian economy. IB Assessed in terms of occupational distribution of the working population in India at the time independence, we get a disappointing picture of the Indian economy. 1 Since bulk of the working population was engaged in agricultural sector (along with the f that agriculture was merely a means of subsistence), Indian economy was in a state of extre backwardness. The transition from agriculture to industry was insignificant or almost negligible. Rampant poverty and occupational structure were closely related to each other.Ta TEE — ) Commercis 7, INFRASTRUCTURE Oye ” Jements of (i) economic change (like means of uncertain’ instar refers tothe ements of OT rand the elements of outlook of transport, communication, ie eens health and housing Facilities), the produc (i socal change (ike BOW" ond development of a country. (2) New OPP which serve as a Foundation for BF vlring the British rule may be described opened vP nents of infrastructural change ccna as under: Sy ecceet e tad 0 es Hee teas (i) Railways ‘ort finished goods from Britain to the famines developed to t7asP (with a view to widening ors of the colonial India COLiseeer rent eter Mec el eran aystem oft the market for the British products in India. However, system of stmoduction of railways is considered one of the most jarge-scal important contributions ofthe British in India, (Efficient (i) Ports were developed to handle export of raw material left a legs fe to Britain and import of finished goods from Britain. The oe Senn developmenc of inland waterways proved uneconomical. For example, coast canal on the Odisha (erstwhile Orissa) Coast sede ‘was built at a huge cost, but failed to compete with railways and was ultimately abandoned. ; eee (i) Post and telegraphs were developed to enhance administrative efficiency.) pyay Doubtless, it served the purpose of maintaining law and order. ee (iv) Roads were developed to facilitate transportation of raw material from signific different parts of the country to the ports. There were no efforts made jy _Raitway to develop all-weather roads to reach out to rural areas during the rainy eam season. As a result, people living in rural areas suffered at the time of a mod natural calamities. started Briefly, some modest infrastructural change in the economy during the British asa so Raj is not denied, But, the motive behind this change was not the growth __ i) Railwa and development of the Indian economy; rather it was to facilitate colonial Biot eS eee of the Indian economy for the growth and development of the _(') Faster economy. Consequently, Indian economy remained backward, even the sp when it experienced some infrastructural change. Negative in M2) there any Positive Impact of the : et British Rule in India? expor Certainly not, if the i iti i es te Bh as sad with reece a q . The motive was clear and focused: " eee ; " t was colonial exploitation of the Indian economy. However, , = | Thus, the sj achieve t] i . end yielded some positive side-effects. These are as the means to under:————— Indian Economy on the Eve of independence cial Outlook of the Farmers: Forced commercialisation of maou agrees ofthe market. True, but i also Ted to a gradual change in oo ariwk ofthe farmers. The farmers started considering market price of ities), ne produce as an important determinant of their production decisions. @ New Opportunities of Employment: Spread of railways and roadways a pened up new opporcanities of economic and social growth (@) Control of Famines: Rapid mesns of transport facilitated rapid oS movement of food grain to the famine-affected areas. Accordingly, zane famines were controlled. ning | (4) Monetary System of Exchange: ‘There was a transition from barter eof arsrem ofexchange to monetary system of exchange, Growth ofmonetary ver, orem of exchange facilitated division of labour, specialisation, and a large-scale production. : 65) Efficient System of Administration: The British government in India rial safe a legacy of an efficient system of administration. This served as a wo ready-reference for our politicians and planners For az oast rays Positive Impact ae {i Railways faciltated expansion of the domestic market Accordingly, exports and imports of the country showed a or significant rise. ade (jy Railways facilitated commercialisation of agriculture, as iny ‘goods could then be moved to distant places. This implied of) 3 modest change in the outlook of the farmers. They z Railways in the British Rule started viewing farming as a business, rather than merely asa source of subsistence. {ii) Railways enabled people to break the barriers of dist: promoted cultural affinity among the countrymen. grain across different parts of the country (owing to Railways) helped control arvation. ‘ance and undertake journeys to far off places. This. (iv) Faster movement of food | the spread of famines. Food supplies could reach the people before they were driven to st | Negative Impact (@ Railways contributed to colonial exploitation of the Indian economy. material) could then be easily transported from the fields and farms exports to the British economy. {i) Finished goods coming as imports to the Indian economy could be easily transported to the interiors of Because, primary goods (raw 10 the ports for the purpose of the country for purpose of sale. Thos, the spread of railways led to the spread of the domestic market for the British products.Me ele AND Peo kaeaveckouma LAN z AGA eANS itatio of stem of by way from the wih ng |=" Clo DO & t = economic System = FF common Goals of Five Year Plans le or no was well | = jety and FOCUS ter acquaints its readers with different forms of economic system and the choice of he context of Indian economy after independence. The well-known three pitalist, socialist and mixed economic system. india opted for ya significant role British h This chapt hrough J economic system in th forms of economic system are ca thegystemof mixed economy in which both public sector and private sector pa in the process of growth and development. However, the public sector in India was to play the in,and | jagship role which necessitated the need for planning. ‘Accordingly, the planners and politicians rnd decided to weave the mixed economic model of India's growth strategy around the wrodelo Five Year Plans. Thus, ‘Mixed Economic System’ and 'Five Year Plans’ are discussed 25 the two principal components of the strategy of growth or was culture unt of - 1, ECONOMIC SYSTEM ts like Economic system refers to ‘economic order’ in the country. It encomP® (includes) i) the system of production, (ii) the system of resource allocation, and (ii) the system of distribution of goods and services in the economy. ses he way goods and services are From the system of production, we mean tl f resource allocation, we mean Produced in the economy. From the system 0} ‘what goods and services are produced in system of distribution, we mean the way peo! + Jand, interest for capital and profit for the economy’. And, from the ple get reward for their factor s ervices (Wages for labour, rent for entrepreneurship).) Economic Development Broadly there are three types of economic System: ' (@) Capitalist economy, (ii) Socialist economy, and : basis of ‘degree g (iii) Mixed economy. differentiated from each other on the (v These systems are ele tee forces are allowed to function freely without intervention from, ee (or capitalist society) is said to preva” Irreferstoa situation —_ eh ene ment, capitalist economy $ ES Sean di tivity in such gantry does not interfere d ee eee ’ shih marka Profit maximisation is the undercurrent of p1 na wrch the market foresof Erovaddemed | sconomy ce “Caurestothe When the market forces are not freely operative and the government decider, preducion ofaifrent hat eo produce, how to produce and for whom to produce’, socialist econom, See Sisnethee (or socialist society) is said to/pfevail. Maximisation of social welfare is thy Siew to maciising ther y profit undercurrent of productiot ee ee rent ecommerce tel Coreesd oer neacen en tear terer em them high price and how to produce aadfor whom to produce’, mixed economic system is said ymez iederdepoorgee, Prva. Maximisation of profit and maximisation of social welfare go handithe whether the poor get PI minimum of L_hend in such an economy. When Five Year Plans were launched, India Pits tivity in such an economy. thy odssbeker and dothing. ¢5¢- nixed economic system, ‘Mazimisaton of prof As dominates the process of Salient features, merits and demerits of each of these economic systems a decision-making; social. ; velieisgivencnlys “scussed as under. This will enable us to understand why notional priority. is India opted fhe Mixed Economic System. deci the wel Capitalist Economy wh: BRAIN TEASER A capitalist economy, also called ; : : esi Fctarantesenger tf TAKE economy or capitalism, is Fea defined as the one in which means of production are owned by the individuals, and the individuals are free to take their economic decisions, a guided by the principle of profie maximisation, ‘elo rd arose tion toons = ea Sot te ocr hlosopar dae of fraser eevee t iret fom te preaane eft utes he ene the bata we ence dines bi tomer rege (tet om itees Sour nto Which den interest or tov mes tonsactons possblenacaptatst economy? Ans Teese fete of captats economy ste ‘motive ome ot which intuit ay ce tat alos tansactons tote piace The @ hip of the means of Production, Me (ii) Means of Production are used ; _ ina S seemed labour is cheap, labour interest ae POE Sc labour-int 1 is employed, and vieevems ensive methods of producti” pro,deg my rhe Economic System and Common Goals of Five Year Plans (iid) Only those goods are produced which can be sold at a profit either in domestic market or foreign market {iv) Distribution of the goods among people happens on the basis of purchasing power ~ the ability of people to pay for goods and services. ed to the maintenance of law {@) The role of the government is largely cor & onder and defence of the country Merit The principal merit of this system is that it promotes self-interest, Profi maximised, and GDP growth is accelerated. Demerit The principal demerit of this system is that it ignores ‘collective interest of the a society, Only those goods are produced which yield high profits. Accordingly, Social justice is achiev coduction is directed to satisfy needs of the rich. The poor people suffer leads to rowth without social justice. distribution of equitable adopting a market economy model of growth would iscomeand wealth ut of the people of the country would be left behind with improve their quality of life. Socialist Economy A one in which there socialist economy is social (collective/public) ownership of means of production, and economic by some central authority of t with a view to maximise social tthe government knows the governme: I is assumed the best for the country, and so individual en priorities. desires are not Socialist Econorry Features The salient features of a socialist economy are as these: {i) Means of production are collectively owned by the society as a whole, Or, th nership of the means of production. There is no private property. (ii) Means of production are use maximised. (iii) There is direct participation of the production. The role of the government is not mere order and defence. lic ows re is a pul .d in a manner such that social welfare is government in the process of Ay confined to law & Merit Socialist economy achieves ‘equality’ in the distribution of income. Growth Process becomes inclusive, and is based on the principle of social justice“u“™ wth remains a sIOW Process. This; | profit maximisatio, Mix tis owing to 4, AD I Demerit ‘The principle because, production is Instead, it is directed demerit is that GDP gF° s not directed by t y the principle of -ono) fhe principle of ‘ quity and Justice’ mies like Soviet Union and Chiy Leader demerit that the erstwhile socialist ec he er: s had to Pi to market economy from the contro led economy. a itch over a switch o he li Mixed Economy A mixed economy is the one f the means of he principle of profit max in which there is private as well , Indiar f production. Production decisioy *4oPt misation, but ng "@5P° public ownership © are governed largely by # ae without checks and balances of social justice. an ac Features ‘The salient features of a mixed economy are as under: asa Mixed Economy : (i) Means of production are owned by the private entrepreneurs, Mix well as the government. , (ii) In the private sector, production decisions are governed by the principk of profit maximisation, while in the public sector, social welfare rules thy roost. (ii) Both private and public sectors play a significant role in the process¢ n production, : Th Merit a \ The principle merit of a mixed economy is that it combines the mert 2 of capitalist as well as a socialist economy. On the one hand, GDP grow! i ow is encouraged because private entrepreneurs are free to focus on ‘prof —: maximisation’. On the other hand, ‘social justice’ eter justice’ or equality is promote 5 because the government sector places high priority on the m: sation d s hit igh priority on the maximis, ca : A this demerit that the mixed econ y. It is owing t 7 omies (li Privatisation ofthe public enterprises. Ulike India) are gradually opting fo! demand and supply, by the government,ixed Economic System— An Ideal System of Growth inners of independent India so « indostrial Policy Resolution of 1948 and the Directive Prine « constitution reflected the outlook of the planners thar mq economic order where there was a strong public secto , x to private property and democracy. The publie 5 .d private sector would be encouraged (and in: participant in the process of growth and development. 2, COMMON GOALS OF FIVE YEAR PLANS. ‘Mixed economic system was integrated with economic planning. What is Economic Planning? namic planning means utilisation of country's resov rent development activities in accordance with natio} —Planning Commission. jzadopted the model of ‘Five Year Plans’ as pioneered by the Soviet Union. irst Five Year Plan was introduced in 1951 and the last in 2012. In between yews, some annual plans were also introduced as these: three an as from April 1, 1966 to March 31, 1969; one annual plan from ' t0 March 31, 1980; two annual plans from April 1, 1990 to March 31, eat Five Year Plans had different goals. It is important to note that five years len documents not only specify the objectives to be achieved in plan, but also what is to be achieved in the long run. Long-term plan is Caled ‘perspective plan’, ‘Need for Planning in india India inherited from the British a backward and stagnant economy. It was b utput and productivity were low. And, it was stagnant as the GDP grow low). Such an economy could not be left to the market forces of su| Brouth and development. It needed a big push of investment, supported Py the #Fecourse to economic planning. ane aoe °f planning are common to all the Five Year Plans and are therefore Ben : “ily studied as Common Goals of Five Year Plans or Objectives of ni pl is qu ® Ht may be noted that depending on ground realities, each plan si wever 'ned as a distinct plan with a distinct set of objectives. Homic Development Vy te according to syllabus specifications by the CBSE we are focussing only on ere en con clls Year Plans. Theseare as under: ; Paniae eee cissay (i) GDP Growth: Increase in GDP (Gross Domestic Product) implies the level of output in the economy. is defined as a strategy that pees in the flow of goods and serv defines how to allocate the country’s scarce resources flow of goods and services rowth’, Thus, GDP growth ices in the economy. It implies an increase is consistent over to dif i erent aU When the increase in the view to achieving a given ; ; set of goals. These goals itis called ‘economic g} often relate to growth and leads to economic growth. social justice. along period of time, Increase in GDP leads to economic growth, It implies a consistent increase 1 GDP or a consistent increase inthe evel of output, ora consistent increase inthe flow of goods and services in the economy over long period of time. Increase in GDP depends on two factors: (i) Increase in resource-base of the country, and (i) Discovery of more and ‘more resources in the a rae aia oes (ii) Increase in productivity (output per unit of input) through Teoure bus ofthe ae ae innovative technology. (ii) Innovative tech Pl i i atura ) aso tet eee ensure that natural resources were fully explored productivity or output and production technology was continuously improved. So that, GDP perunit ofinput, growth achieved a momentum. Harvester wae newd Thresher fr Innovative Technology raises Effciency/Productivity a country develops, the contribution tural change’. Usually, ee qEconomic Syst "stem and Common Goals of Five Year Plans nisation: Itrefers to updating and adoption of mol Moder 2) Me process of growth. in the P arlier, output can be i snoted & tp increased either by increasin resources or bY using innovative technology modern technology 6 the pool of syodern age othe age of science and innovations. Science 2 ce has me ways of doing things, such thet productivity in farms and ean qasshown an exponential rise overtime, ema coes Green Revolution in Indian agriculture is a well-known exampl i amy technology can bring about revolutionary changes in output ple of how gecently IT revolution has redefined the concept of domestic through BPO (Business Process Outsourcing). ene However, modernisation in the context of goals of plans in India, was assigned @ social angle as well. Here, it refers to modernisation of a outlook. ‘The planners were of the strong opinion that conventional wisdom (wisdom without a valid reason) must give way to modern outlook. It included issues like empowerment of women so that (like men) they also could participate in the process of production and contribute to the process of economic and social prosperity. MODERNISATION AND EMPLOYMENT GENERATION: COMPLEMENTARY OR CONTRADICTORY? Modernisation as a planning objective was n (imodernisation and employment generation) as other The complementarity between the two was expected to work as under: — Modernisation leads to increase in productivity. _ —Increase in productivity leads to higher level of economy. implying, a rising demand for goods and | — Expansion of demand leads to expansion of employment opportunities. However, of late the nature of growth process has taken 2 dramatic juin, Tect aa driver of growth process. And, the nature of technology is st " Supplementing it. Consequently, jobless growth 5 emerging to be < roduction activity an services in the economy. ment generation’ wer « | This, even when ‘modernisation’ and ‘employ the two is an emergin' « der Five Year Plans), the dichotomy between challenge. tate of self-reliance means the st irces. Self 6 ) Self-reliance and Self-sufficiency: non dependent gues of the word for, the Amana! 1277 Sufciency refers to the state of non-dependence uP” Te of the world for the essential supplies in the domestic economy: \d higher level of income in the Jnnology has emerged as the uch that it is substituting labour rather hallenge for the politicians and the planners, fe taken as complementary objectives ‘ot expected to contradict with employment generation. Both goals of planning were taken as complementary to each | | |Indian Economic Development ae wi f-sufficiency. ‘The basic id ¢ of the Ww" ial goods. Indeed, it ts of food grains fea was not to exPOse jf-reliance and se ‘orld when we This twin goal (of sel te priority during the irse seve i jomy t0 Po Indian econ’ er USA threatened the then war witl ‘ficient in food grain P st of the world. ly of essen to stop expo" p Pakistan. roduction to avoid the are dependent upon # happened in 1965, when to India if it did not stop ‘a wanted to be self-su! Indi 1s from Fes uncertainties of supplie duction. Otherwise, we had nd conditions (which could (1965) xy in food grain pro’ the specified terms a pestered to end war with Pakistan meme Te was necessary for India to achieve self sufcen “ to yield to USA for the imports of food grains eae cour political sovereignty). Example: India was for favour of food grain supplies from USA. {bution or Equity: Economic growth would become: (4) Equitable Distri fits of growth accrue to only a handful o meaningless exercise if the benel people in the society. Note the following observations carefully: = Growth serves virtually no purpose in a society where rich teni to become richer and the poor continue to struggle even for the essential of life. Benefits of growth must spread across all sections of the society, sc that the distribution of income becomes equitable. 4 Equitable distribution of income implies social equality and this we . one of the principal objectives or goals of planning in India. e pl: i a5 Hee in pared the point that every citizen of the count a to fulfil his basic needs of food, clothing and shelter sides education and healthcare, Equal Distribution and Equitable Distribution Equal distribution wor uld mean every indivi ee in every individual in the societ the Tewonld imply sadn oho nee Y gets the same share in the country's No Sony wo eae Bets the same salary asa clerk in the hospital le distribution, on the othe, eee hand, refers to a situation when differences i These differences are socially Pa qualifications and skills of differ @ When a doctor gers 50,0 000 to perform a surg worker gets 50,000 forthe entre year (workin, ie be socially justified. Such differences ( poe Equity’ (in terms of equitable distri social justice, unwarranted and are to ent individuals in the society bution of income) M Ic is only when economic ‘ growth development’. Planning in f is related to soc India f ‘ ial justicy : focuses on ‘growth grat Stee that ‘growth’ 4 social justice’ is converted intoEcono mi ic System and Common Goals upon our needs and means, our planm ds ers, ificance of different objectives from pl pla of Five Year Pla Depending ty relative sigm! ave been redefining the ; n to pla the focus has been on achieving better quality oa plan. On the whole, 0} : 55 all se Am ey now popularly Known as nclsive Growth iemeeers cite Conclusion ayjxed economy with planning’ becan ie me our model of growth independence: Public sector was to play the flagship role in the aoe an development of the country. The growth process was to be pursued to the specified targets, plan after plan, aaa Peiiaeier Revision Window} m Economic System: Economic system refers to economic order in the country. Types of Economies: «© Capitalist Economy is the one in which there is a private ownership of the means of producto Maximisation of profit is the principal objective. «Socialist Economy is the one in which there is a social (collective/' production, Maximisation of social welfare is the principal objective which means of production are owned by the pri rublic) ownership of the means! © Mixed Economy is the one in wate entrepreneurs well as the government. mnder which a central authority sets a set to a system w e ith in the specified per 1 Economic Planning: Economic planning refers cies to achieve those targets WN targets and specifies a set of programmes and poli oftime, se to achieve Pre Plan: A plan lays down how the limited resources of an economy should be put 10 use toad © Goals of Planning: () GDP growth. (i) Modernisation. (ii) Self-retiance and self-sufficiencyme hag =| Fteunscen lens ulation hat the 7s -1990) “| ((gsUmiade bare of 80 per ure has urbing Tee ‘of Agriculture: idings: | * — « Land Reforms rsand | gaz __» Technical Reforms: HYV Technology and Green arginal Revolution tended = Of industry: =, Publicand Private Sectors in Indian Industrial maa 2 Development , ‘¢ Industrial Policy Resolution (1956) jodrej) =, Small Scale Industry pmost aw Of Trade ¢ Strategy of Import Substitution = Or == ¢ Inward Looking Strategy ® Salient Features of Growth Strategy and its Good and Bad Effects FOCUS growth (Mixed Economy and Five Year Plans) ‘The discussion focuses on three sectors of the d upon the model of 'Mixed Economic System ‘The present chapter discusses how the model o' was implemented during the period 1950-1990. economy, viz, agriculture, industry and trade, base 2nd Five Year Plans’, Me testict ourself to the year 1990 as our strategy of growth (or the model of growth) was eae revised in the year 1991. A set ‘of economic reforms were introduced which her were called NEP (New Economic Policy) which is the subject matter of next chapter.ET b ei ce Indian Economic Development : : aGRicuLTUR o vibrant) at the time i ¢ (non : i. stagna jing features: : ce or was both packard ane paiere ‘ ie se eras backward ast el Ls independence i srry pow level ofourpu and productivity are ee E i 1 of investment a5 well low? ae ee ; i ol Lo catered woking OSE reliance Ve tere y (ji) Small and sea! are Seen” : taking agriculture Jargely as 2 means oa cof the farmers; ; {iy) Subsistence outloo earning profit: ource of of subience ater HP exhibited the following features = Further, agriculture was stagnant, a5 it pe a ‘ (j) Te was subjected t0 47 exploitative na parondtecn a a agstem of and evenve) which deprive ae eae rights and left them with no surplus (of output) bey! i we R (ii) Forced commercialisation of agriculture (by way of cultivation of indigo} fi to meet industrial needs of the British textile industry. & (43) Widening gulf between the tillers of the soil and owners of the soil. The é¢ tillers had no surplus to invest and the owners wasted their surplus in t conspicuous consumption. i In view of these issues of backwardness and stagnation of Indian agriculture, the plannersin India introduced a series of reforms which are broadly classified Part as (i) Land (or Institutional) Reforms, and (ii) Technical Reforms. Following is a brief description of these reforms: Despi L imple: and Reforms [Institutional Reforms] states Land reforms or institutional reforr agriculture, and i nal reforms aimed at reducing fae be ies induded the following actions by th g inequality in Indian cau A Aletiion of Intermediaries: Intermediars © government: i) Gata of the soi), popul tmediaries (between the state and wnership rights wy "Pop larly known as pan ate ant i ere givey indars were abolished. (ii) lly cultivated (or tilled) achieve two objectivesday hip 0) Indian Economy (1950-1990) 6) Ceiling on Land Holdings: With a view to promoting equity (equality) in the distribution of land, ceiling were imposed on the holding-size qt implies fixation of the maximum size of cultivable land that an individual or a family could own, Land ceiling aims at reducing the concentration of land ownership in a fewer hands. ‘The surplus land (over and above the ceiling limit) was resumed by the jovernment and redistributed among small holders or landless labourers & cmmiitation of Holdings: With a view to reducing fragmentation, consolidation of holdings was accorded a high priority Consolidation isa practice to allot land to the farmer at one place for his scattered holdings here and there. It saves the cost of cultivation, By 2004, more than 1,633 lakh hectares of land was brought under consolidated holdings. Leena ena To put an end to excessive and illegal extortions fi com the cultivators, rents were regulated. Generally, these were not to exceed 1/3rd of the value of crop. 6) Cooperative Farming: Cooperative farming was promoted to enhance bargaining power of the small holders. Collectively, the farmers could ; ee buy inputs ata lower price and sell their produce at a higher pric Partial Implementation of Land Reforms } Despite the noble objective of land reforms, these reforms were only partially implemented in the country. These were effectively introduced only in the states of West Bengal and Kerala. In most other parts of the country, land | reforms were only propagated and not effectively implemented. This was because of two reasons: Read he oe eae gen {i) The zamindars in most cases managed to evict the tenants, to show ff below ans anon ne aes : that follows themselves as cultivators and legitimate owners of the soil. sealer (ii) The landlords challenged the land ceiling legislation in courts which J furscwstinte'9s0s noo Provided the landlords enough time to evade the Ceiling Act. They J "25 '535007n managed to register their surplus land in the name oftheir close relatives. J} fon lSvec sears autonomy: és ‘Source: financialexpress.com neve eeforms: aie security gave rise to Revolution during Technology and Green Revolution Th The 160s in na, Problem of low productivity was tackled by way of technical reforms. ff an me Green evoiton was “Se reforms evolved around HYV (High Yielding Variety) seeds. Use of J omectte ponies Seeds along with chemical fertilizers, insecticides and pesticides led to food security.EE Indian Economic Development ‘Green ’ i ‘and ‘Revolution refers to ‘spurt (significay i duction. It sta rt in crop Pro. na ca ca the year 1967-68 itself, food grai, eo cents India became self-Suficen fully broke the vicious cycle g refers these «er the year in rly 25 pe ins and success! The term ‘Gree? happening in Per increased by 12 the production of 004 B72) in the agricultural stagnat tion. soeok Green Green Revolution: A Revolutionary Rise in Productivity eaneitre calpains ofthe ct ‘adie il Til Nady, Elements of HYV Technology HYV technology includes four principal elements, as under: () Use of HYV Seeds: Since 1965, High Yielding Variety seeds started replacing the conventional varieties, HY, seeds gained popularity for wheat, bajra, ce, maize, jowar, and cotton, in particular. It 's these seeds which led to a substantial rise it agricultural output, Mates of Fe til : es of ch Set Association of India reveal that ‘emical ferti ‘rtilizers were consumed in IndiaIndian Economy (1950-1990) ticides and Pesticides for of Insect ‘ Oo) = rpeowetion: Along, with fertilizers, me ate SP HYVs also requires the use of ry pessides 0 POTS the crops against pests is, sand diseases: “4 Fourteen Central Plant Protection Centres rope set-up inthis FsPECT yor op proretions Integrated Pest Sere crane cesta - ng withthe adoption of HYV technology. Pesticides for Crop Protection » expansion of irrigation Facilities: HYV seeds need to be deeply 44) Exp 5 isrigated. Beers cmon theg pect, several male and minor irrigation projets were Inunced 2705S different parts of the country. It is Egnicant eat while in 1951) barely 17 per cent of land was under pemanent means of Frigaton, it increased to nearly 45 per cent during she plan period. Two Distinct Phases of Green Revolution. prise 1: Mid-60s—Mid-70s this phase, scope of Green Revolution was restricted largely to wheat During this I P' ly wes growing regions ofthe country. These included the states of Punjab, and rice g# ig Teg! ij ‘Andhra Pradesh and Tamil Nadu. This is because the HYV seeds require 5. wegular supply of water in addition to the use of fertilizers and pesticides in torre: proportion. In the frst phase, only the farmers who had financial resources to purchase the inputs were able to reap the benefits and therefore, i Pp e the revolution was restricted to affluent areas of the country. he Phase 2: Mid-70s—Mid-80s During this phase, the impact of Green Revolution became widespread, covering most areas of the country and larger number of crops. is. Duting second phase, the government provided loans to the small farmers ie low interest rate and subsidised fertilizers & pesticides, making the od. der inputs accessible to the small farmers. AS @ result, Green Revolution 3) {ted the small landholders a well | Th, : at brege owing to intervention by the government that the benefits of the fie evolution accrued to the small farmers as well.‘an Economic Development ion e benefits of Green has been asubstantial ump in cry no Green Revolut So the highlight 4 Foffowing observations ne Revolution: (1) Spurtit rc estimated at 3,464 kg pg ‘of wheat was eae to 660 kg per hectare in 1951; of rice, it yp, 21 compared to 665 kg per hectare in 195, in 2020-21 compared to 7044 To illustrate: Prod hectare in 2020-21 Sao in 2020- 2,713 kg per hectare in : ‘and of maize, it was 3,195 kg per hectare » per hectare in 1951. Spurt in productivity has ‘This has marked the end of (2) Substantial Rise in Acreage (Area under Cultivation): Hyy technology has significantly reduced the time lag between sowing anj Jed to a structural shift in Indian agriculture Jong period stagnation in Indian agriculture, harvesting of crops. Use of chemical fertilizers has eliminated the need for fallowing Accordingly, double cropping has become possible. This has led to; substantial rise in gross area under cultivation, In 1950-51, gross area under cultivation was 13 crore hectare which now has shot up to 20 crore hectare. (iil Crops: Revo sliowing vq | ail was confi F Iisa practice of leaving land as uncultivated for some time. So that, es it regains its fertilit 4 lowing was common practice among the Indian farmers prior to och j called marketable surplus, h to buy producer goods f nsumptii cults Teta Use this casIndian Economy (19501990) change in Farmers’ Outlook: Commercialisation of agriculture has 4) jsed a change in outlook of the farmers, Farming is no longer viewed sr source of subsistence; itis considered as a commercial venture as well self-sufficiency in Food Grain Production and Buffer Stocks: Tperease in crop Production (on account of increase in acreage and erease in productivity) led to self-sufficiency in food grain production, @) spurt in production led to a fall in market price of food grains, according! theirsubsistence needs, Food grain production increased so substantially that it enabled the government to keep buffer stocks. These stocks are cet demand during lean seasons of farm supplies. Jy, even poorer sections of the society could comfortably fulfil used t0 met Gains of Green Revolutio: | significant but not Sufficient Or Limitations of Green Revolution Following observations highlight the limitations (failures) of Green Revolution in India: (2) Limited Crops: Revolutionary rise in output (due to Green Revolution) was confined mainly to the production of food grains (wheat and rice), There has been no similar rise in the production of pulses and commercial crops like jute, cotton, tea, etc. (2) Uneven Spread: Spread of Green Revolution was not uniform across all regions. In states like Punjab, Haryana, Maharashtra and Tamil Nadu, it made a remarkable impact. But in Eastern UP, Bihar, ‘Madhya Pradesh and Odisha, its impact was relatively insignificant. (3) Limited Farming Population: The bulk of the farming population in India consists of small and marginal farmers. The gains of Green Revolution eluded these farmers. Because, HYV technology required ‘pensive inputs which were beyond the reach of marginal farmers. However, rich farming population (though small in number) happens to own the bulk of farming area in India, Which is why the results of Green Revolution were found to be impressive in terms of overall rise ‘nowtpur, 0 fave ) Economic Divide: Despite aid by the government in terms of subsidised 1"Puts, HYV technology remained beyond the reach of most marginal he Iders, Consequently, the gulf between rich and poor tended to swell Over: time.nomic Development othe monetary ven by neo sostain ate production wore found to be significant, bye, ited to bridge the gap between the ich ny A technology, while fe Sealed UP income esues ofthe small and marginal older, vemained a far ery owing t0 their povg agricultural expansion failed to ach it failed to address new technology jutionary phase © the rich farmer svhom adoption of Thus, even the revo ‘Equity’ yr Vice? While some appreciate ita, a brief description of bog subsidies: Virtue o is a widely debated topic. vice. Following is Agricultural [Agricultural subsidy virtue, others denounce it as @ the views: Agricultural Subsidies: A Vice Those who denounce farming | subsidy as a vice, () Huge Burden on Government Finances: It is argued that once ty subsidies have served their purpose, implying the technology is prova useful and is adopted widely, subsidies should be phased out as they puts ‘huge burden on government finances. (2) Misappropriated Benefits: The subsidies not only benefit the farmen, but aso the input industry, like fertilizer industry. Among farmers, tht benefits of subsidies are mostly reaped by those in prosperous region Since, the target beneficiaries are left behind, there is no rationale it continuing with the subsidies. make the following observation Breuad to develop industry ag leis also te (9) Wasteful Consumption: Subsidies do not allow market price to dicta fy, alised that ¢ the supply of goods. Availability of supplies at low price leads to wasteld consumption, Example: f water is supplied fregto the farmers, they would tend to u® it unmindful of the fact that water is a scarce resource and needs to a oa Similarly, subsidigs on fertilizers and pesticides may le ive use causing environmental pollution, Agricultural Subsidies: A Virtue Poor and do not have suificient me the need for subsidies,Indian Economy (1950-1990) ¢ can say the need of the hour is not to lower subsidies, but to ensure fly, Briefly Y sefits of subsidies is directed towards the intended beneficiaries ‘hat the be™ 2, INDUSTRY ged GDP growth is possible only when its epicentre lies in the Suse’ sector. Industries provide employment opportunities that are ein comparison © those in agricultural sector. Since the colonial rule seable M vehind a decayed handicraft industry, besides a bleak existence of le industry (confined mainly to cotton and jute textiles), the jecorded high priority to industrial development through the Five ~- It wasalso recognised by the planners that industrial development ng infrastructural base requiring a massive investment which sed only through a direct and significant participation of the planners Year Plan needed a stf0 could be real public sector Public and Private Sectors in Indian Industrial Development Or Factors Necessitating Direct Participation of the State (Public Sector) in Industrial Development ‘Along with the need to develop industry as the epicentre of growth, the planners and the politicians also realised that the process of industrialisation could not be left to the market forces of supply and demand, Also, it could not Public be left to the wisdom of private entrepreneurs alone. Direct participation of the sate was considered essential in view of the following factors: ; (1) Lack of Capital: Industrial development in India needed a big push. Implying a large amount of capital expenditure. At the time of independence, Tata and Birla were the only established ‘dustrial houses in India, The requirement of capital for the country’s ‘ndustrial growth was far beyond the capacity of these industrial houses. wording, it became essential for the state (or the government) to achieve 7 ‘eve induserfal growth through public sector undertakings. a einen to Invest: The private investors lacked usa rng 8 owing to limited siz ofthe market. Limited size of the because i Owing to low level of demand, Level of demand was low low level of income.income wy inducement | li re io Tated sz |p| Yremanet| |_* ea ic ment could break this vicious cing re the obvious choice tO initiate g push only a big PY , ly, public enterPris ccordiny . 2S alisation. process of industri ; fn with Social Justice cE ith oil justice According er Year Plans. The government realised tha jective of Five only through direct participation of the alisation. Because it requires investment thy rnvestment that maximises profit, “The government after independence y, momy needed to be given 4 social, as stated as one of () Grow? amply pattern. critical obj objective could be achieve in the process of industris : generates employment rather than i Concentration of wealth was to be discot (eather than private investment) was considered as the best means achieve, yuraged and public investmey Control of Commanding Heights of the Economy ac ights of the economy refers to industries of strategic significance. These industries including those like transport and communication) were of strategic significance because they scructural base for the overall spread of industrialisation in the economy. The mament decided to develop these industries as public sector undertakings. (9) ldsstrial Concessions: ‘ding heights also included industries of defence production which, owing to strategic nay apes of industrial « of councry’s defence, could not be let in the hands of private entrepreneurs, teva regions ofthe co IPR, 1956 (Industrial Policy Resolution, 1956)— ADeclaration on Leading Role of the State 2 the news hein en lowe eC 0 Ina cen system sssetoptoenaretiat vate eters wo not Follo} =e wing were the principal el (1) Three-fold Classificatic into three categories; lements of IPR, 1956; ion of Industries:Indian Economy (1950-1990) role. New enterprises were to be established primarily in second21 = tor. This category includes fertilizer industry, mining the public industry pat indsriesotner than In CHEBOeS (j) and (ii) were left to the privae sector sos IPR, 1956 clearly i é rocess of indus Licensing: Industries in the pri adostrial shed only through #7/eence from the government. sien oficensing policy was o encourage industry in backward ~ country. This was to promote regional equality. (iid plied that the state was to spearhead (sponsor) lisation in the economy: wvate sector could be ® esta ‘The regions oft policy to Promote Regional Equality jovernment was to promote regional equality. stry in backward regions of the country. censing ig Licensing Pol x Private entre icy of the g reneurs were expected to establish indus I acordngy licences were liberally jssued for the backward regions rather than the developed regions ofthe COURETY. not only for establishing a new enterprise, but duction capacity of the existing ones. This was to f resources to different uses. The focus was to ‘licence was needed also for expanding Pro* regulate the allocation of promote social welfare rather than private profits (6) industrial Concessions: The private entrepreneurs Were offered nay types of industrial concessions for establishing industry in the tackvard regions of the country. These concessions included: & tarholiay (freedom from the payment of tax for sometime), and 1 subsidised power supply. Like the policy of industrial licensing, the industrial concessions were expected to promote regional equality. ees Small-Scale Industry CT P : ‘0 Promote Employment and Equity) he ‘i oe of industrialisation had two broad dimensions: iG | ; a of large-scale industry (like iron and steel, transport and - lunication) to generate infrastructural facilities, and rowth , cy ofsmall-scale industry to generate opportunities of employment, ne mote equity (social justice). scale industry is prage tact Es lustry is présently defined as a unit having fixed investment Crore with a turnover of less than & 50 crore. Earlier, it wasic Development Large-scale Industry : Capitat-intensive exceed & 1 crore. At the beginning did not nse investment did nt a rnent did HOt ExCed defined as one W! of planning (1951), it was defined as on as Reser all-scale industry for promoting rural develop small- y eee {also called Village and Small-scale underlined by Karve Committee Industries Committee) in 1955. ms of their iI-scale industries in ter e significance of sma It underlined the signi three principal characteristics as under: Three Typical Characteristics of SSI highlighting its Role and Importance (1) SSI is Labour-intensive and therefore Employment Friendly: Small-scale industry is generally considered to be labour-intensive, while large-scale industry is capital-intensive, To produce a given output, small-scale industry is expected to use more of labour than capital. A large-scale industry, on the other hand, uses more of capital th labour. We inherited an economy from the Brit ‘hich was a ‘capital-deficient economy’ and a ‘labour-surplus economy Accordingly, our planners rightly thought of achieving full employment by focusing on small-scale industry, 2) SSI shows Locational Flexibility and is therefore Equality-Oriented (referring to inter-regional equality): Large-scale industry (like Bhilai Steels or Rourkela Steels) is often established close to the source of raw material. This is because raw material Fquirement of the large-scale industry is very huge. Its transportation from a distant place leads to high cost of transportation, SSI, on the other hand, equality-oriented, contrib | To ol strateg ‘Inwar Inwarc substit and imIndian Economy W9Ue Va) Proteclon from imports ; took Ew Forms: cause of greater employment per unit of m Tariff A tariffisa Gury on the imported commodity te directly industry requires government support as inereases the prise of peeing pore commodities er of goods was reserved forthe small-scale industries Rae aang rcture those domestic producers from foreign competition sm Quotas: Under it, the government fixes the eee eee different goods from e STRATEGY OF IMPORT SUBSTITUTION 2. chchus ‘Accordingly, it does nO Rather i¢ promot er promoted bi compared to large-scale industry. ions of the society, “es equality across different s Equity is furehy investment in S Jopment of small scale est compete with the big industrial houses. As a result, vjuction of a numl od ability vad on the capability ° sds, They were #80 BINS ees on the bank loans of these small-scale industries to manuf a benefits of lower excise duty and lower interest 3. TRAD! the quota is fixed keeping plement the efforts atone) deepmo iia steed te ee complemen aaa pstitution during the period 1950-1990. It i also called oth tariff and quota restrict the imports and, thereby, protect the cof import sul Brace: , Trade Strategy’ Bnward-Looking axegy refers t0 the policy of reliance on “import domes producers rom foreign competition. ward looking trade str spctution’and protection £0 area of international trade, Note these points carefull the domestic industry through import restrictions 4 import duties in the D )Import substitution implies domestic production of those goods which my has been importing from rest of the world, This isa strategy the ect tr eave foreign exchange by restricting the volume of imports, Read the news headline ven bbelows and answer the question that follows {8°"To impart from abroad: be slaves of foreign counties” the frst Pie Mists Jawahariat Nebr, once declared. Source: asianstudies org “The strategy to save foreign exchange by encouraging domestic production of jgoods and services is called 4) Foreign exchange (being extremely scarce) was 10 be utilised for developmental imports (referring to importof such plantand machinery s neh i exental for growth and development but cannot be produced domestically, owing to the lack of technology or the lack of investment funds). By adopting inward looking trade strategy, the government preferred to economise the use of foreign exchange (through import substitution) rather than maximise the generation of foreign exchange (through export promotion) aan ‘ns. import substation hes (iv) Als, the government wanted to protect the domestic industry from sve eign exchange 2nd jromate domestic ndty international competition. 'mport Substitution and Export Promotion Strategies 1 a Substitution isa strategy to save foreign exchange by Gy is goods which the country has been importing from rest of the world, Domestic 18% protection from foreign competition through import restrictions and import duties: § Co; tra ee i a ry to it, Export Promotion is a strategy to earn foreign exchange by promoting. orks j : : : ports and making domestic industry competitive in the international marketEconomie Developme OWTH STRATEG ues OF GR Y 4, SALIENT Baers 3, BAD EFFECTS spa ive Year Plans 25 the overall BrOWTh og Based on Mixed exhibited the following salient fear the growth strates Ny a central role in the prog enterprises were lay = (i) Public pl industrialisation. neg the proces ander Permit-Licence Raj. It was a st vee entrepreneurs were co obtain a Ticense for ty and in most cases Were TO Produce goo ‘ed limits of production capacity. ort substitution’, Imply (Gi) Private enterpri industrialisation and that too ‘under which privé industrial establishments, within the legally prescrib jalisation focused on ‘imp such goods was to be accorded a high priory 1m rest of the world, The idea was to achiey (iii) Process of industri that the production of which were imported fror self-reliance as well a to economise the use of foreign exchange. (iv) As far as possible, domestic industry was to be protected from foreig competition. Protection was to be offered through: (a) heavy duty on imports, and (b) fixation of import quotas. It was realised that protection woul foster the growth of the domestic industry. f acesive dominance of ex ‘gat (v) Large-scale industry was to be develoy ili ped with a view to buildin tf infrastructural base inthe country. if | cane es eee ; : Tenn ‘ (x) Small-scale industry was to be developed with a view to achieving ti omen e objectives of employment and equity, Nie oroptes pray ually tor Good Effect E : " : ‘The strategy of growth during the 1950-199 lowist —— a du ‘ing the period 1950-1990 yielded the foll () Economic growth got a bi oo Sot a big push with a blend of Green Revoluti 1 (ii) Indian indus try was jute; in fact, the indore nee Soe industria) rely to cotton textiles 3 due t . sector # to the public sector, t became well diversified by 1990, largetion in the industrial sector. The then a marked diversifi syere 88 «i Thee try (tec In partir) marked es mergence nthe etic targa industry (ike Rourkela and Bill Stel Plants) (io) Grow ptrctralshiftin the Indian economy. The indian economy woke aye absorb he impact of lags industrisation ess (9 Geowth growth with social justice. The development of small-scale YSte| ois offered ntrepreneurial opportunities for the small investors, the, in ands fr lage ee R004 sae owt proces daring the period 1950-1990 showed a noeabe Baily en the economy? Significance of agricultural sector (in terms lyin sie he contribution to GDP) sated declining in favour of the on of i eto Goals of Five Year Plans (growth, modernisation, equity and hiee| seers started showing green shoots rig| Bad Effect | saaeftecss wereas significant as good effects, These are as under: i) in due course of time, the planners realised excesive dominance of a public sector. Covering the production of certain consumer goods {which the private sector was well equipped to do) was realised as the ey element of excessive dominance, It was indeed surprising that eal even bread and shoes were produced by the public sector enterprises. | Thisundermined the significance of private sector as an agent of growth. | (i) Peblicsector monopolies gradually turned out to be a ‘dead social weight. | Inefficiency, corruption, leakage and pilferage emerged as their principal characteristics, By incurring huge losses, public sector enterprises led to inefficient use of scarce national resources. {ii) The need to obtain license for opening of new firms or expanding the ving i existing firms was misused by big industrial houses. The big houses a would get licenses simply to ward-off the emergence of competitors in ic the market. The whole system ultimately started flourishing as a system na of Permit-License Raj dominated by the big players in the market. a (iy) eae of domestic industry stimulated its growth, But, it failed to al chieve international standards of product-quality. Lack of competition | Prompted the domestic entrepreneurs to focus upon monopoly-control A of the market. Growth through competition and diversification was apt Conveniently avoided. gel ) & eae foreign exchange through import substitution (rather than erating it through export promotion) proved to be an inefficient Aim : f ae arted shrinking, ai 4 op séian Economic Development exchange reser¥ started shi ‘i 8) and ae sign © So much so t policy instrument Our foreig: gs sank to the bottom. So mu that ast by the end oF 1990, these sto A" iocid Bank to salvage our oe gold reserves wwe had to pledge our gold rese aa borrowings. iret : s low Conclusion serowth under Five Year Plans Indian economy Was foll i Beer cree eof Asaresult of the strategy of g sation. India became self-sufficient indo able to break the barrier of economic stag} ; sea ra the P! in food grain production, Land reforms and HYV technology ee agriculture from a stagnant and backward sector into a vibrant and growing sector of the economy. The industrial sector was diversified. Infrastructural indus development became perceptible reality, A structural shift in terms of the in the relative contribution of agricultural and industrial sectors to GDP also became indust perceptible. But paradoxically, even as the industrial sector grew and the gover contribution of agricultural sector to GDP declined, almost 65 per cent of the omar yula a Population continued tobe employed in agrialtural sector ‘il 1990, Implying a Soe ‘betthe growth n industria and service sector was not sufficient to absorb the ba ‘rplis labour force of the agricultural sector, Spurt in product i Green Revolution ed toa huge backlog of surplus labou, fore one aes ; ts labour force in ag, But industrial growth was not enough to absorb that surplne Gan ae the planners were confronted with a situation of massive BH 5 any ee : rural une, in the economy, besides growing unemployment amore qu ne mPloyment WS e the urban areas. This was recognised as one of ae Shirai a Sanity, the 7 : em. industrial policy pursued under Five Year Plan, jp dation nitions of | mre and protection from foreign competition | i Sion, the excessive and inefficiency of the d. Sn led to incompeti z lomestic producers. The mMPetitiveness seldom realised the need for modernisation and d een Private secto, With the passa sr eraticatio Passage of time, bad eff ea i fects of the enna strategy on i Shadowing the good effects, So much so, there

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