Economic History Of India
Economic History Of India
Economic History Of India:
It was the first Prime Minister of India, Jawaharlal Nehru, along with noted statistician Prasanta Chandra Mahalanobis, who formulated and supervised economic policy of India after its independence. The concept of Five-Year Plans came into existence, which were influenced by the central planning in the Soviet Union. A number of industries were nationalised during the mid-1950s, which included telecommunication, mining, steel, water, machine tools, electrical plants, insurance and a few more Setting up new businesses required elaborated licenses and regulations. 'Red Tapeism' was also a part of it between 1947 and 1990. The economic policy formulated by Nehru and Mahalanobis was based on direct and indirect state intervention. Though they were quite optimistic about the success of their policy, economist Milton Friedman later criticised their policy, which concentrates on capital and technology-intensive heavy industry as well as subsidising manual, low-skill cottage industry at the same time. According to Friedman, it would waste capital and labour and would slow down the growth of small manufacturers. The economic policies, initiated post independence, were influenced by the colonial experience. Policies included protectionism, import substitution, intervention of the state in labour and financial markets, industrialisation, central planning, large public sector, business regulation. Five-Year Plans were introduced which were similar to the central planning in the Soviet Union. In the mid-1950s, industries such as electrical plants, water, insurance, mining, telecommunications, steel, machine tools were nationalised. Between 1947 and 1990, regulations and licenses were needed to set up businesses in India. This was termed as Licence Raj, and often included red tapism.
Who is the author of "Planned Economy for India" ? | |||
| Right Option : B | |||
| View Explanation | |||
Students / Parents Reviews [20]
A marvelous experience with Abhyas. I am glad to share that my ward has achieved more than enough at the Ambala ABHYAS centre. Years have passed on and more and more he has gained. May the centre flourish and develop day by day by the grace of God.
Archit Segal
7thMy experience with Abhyas academy is very good. I did not think that my every subject coming here will be so strong. The main thing is that the online tests had made me learn here more things.
Hiya Gupta
8thUsually we see institutes offering objective based learning which usually causes a lag behind in subjective examinations which is the pattern followed by schools. I think it is really a work of planning to make us students grab the advantages of modes of examination, Objective Subjective and Onli...
Anika Saxena
8thAbhyas academy is great place to learn. I have learnt a lot here they have finished my fear of not answering.It has created a habit of self studying in me.The teachers here are very supportive and helpful. Earlier my maths and science was good but now it has been much better than before.
Barkha Arora
10thThird consective year,my ward is in Abhyas with nice experience of admin and transport support.Educational standard of the institute recumbent at satisfactory level. One thing would live to bring in notice that last year study books was distributed after half of the session was over,though study ...
Ayan Ghosh
8thIn terms of methodology I want to say that institute provides expert guidence and results oriented monitering supplements by requsite study material along with regular tests which help the students to improve their education skills.The techniques of providing education helps the students to asses...
Aman Kumar Shrivastava
10thAbhyas Methodology is very good. It is based on according to student and each child manages accordingly to its properly. Methodology has improved the abilities of students to shine them in future.
Manish Kumar
10thAbhyas is an institute of high repute. Yogansh has taken admission last year. It creates abilities in child to prepare for competitive exams. Students are motivated by living prizes on basis of performance in Abhyas exams. He is satisfied with institute.
Yogansh Nyasi
7thMy experience was very good with Abhyas academy. I am studying here from 6th class and I am satisfied by its results in my life. I improved a lot here ahead of school syllabus.
Ayan Ghosh
8thAbhyas institute is one of the best coaching institute in the vicinity of Ambala cantt.The institute provides good and quality education to the students.The teachers are well experienced and are very helpful in solving the problems. The major advantages of the institute is extra classes for weak...
Shreya Shrivastava
8thThe experience was nice. I studied here for three years and saw a tremendous change in myself. I started liking subjects like English and SST which earlier I ran from. Extra knowledge gave me confidence to overcome competitive exams. One of the best institutes for secondary education.
Aman Kumar Shrivastava
10thWhen I have not joined Abhyas Academy, my skills of solving maths problems were not clear. But, after joining it, my skills have been developed and my concepts of science and SST are very well. I also came to know about other subjects such as vedic maths and reasoning.
Sharandeep Singh
7thIt was good as the experience because as we had come here we had been improved in a such envirnment created here.Extra is taught which is beneficial for future.
Eshan Arora
8thAbhyas is a complete education Institute. Here extreme care is taken by teacher with the help of regular exam. Extra classes also conducted by the institute, if the student is weak.
Om Umang
10thAbhyas institute is one of the best coaching institute in the vicinity of Ambala Cantt area. The teachers of the institute are well experienced and very helpful in solving the problems of the students.The good thing of the institute is that it is providing extra classes for the students who are w...
Aman Kumar Shrivastava
10thWe started with lot of hope that Abhyas will help in better understnding of complex topics of highers classes. we are not disappointed with the progress our child has made after attending Abhyas. Though need to mention that we expected a lot more. On a scale of 1-10, we would give may be 7.
Manya
8thOne of the best institutes to develope a child interest in studies.Provides SST and English knowledge also unlike other institutes. Teachers are co operative and friendly online tests andPPT develope practical knowledge also.
Aman Kumar Shrivastava
10thAbhyas is good institution and a innovative institute also. It is a good platform of beginners.Due to Abhyas,he has got knoweledge about reasoning and confidence.My son has improved his vocabulary because of Abhyas.Teacher have very friendly atmosphere also.
Manish Kumar
10thMy experience with Abhyas academy is very nice or it can be said wonderful. I have been studying here from seven class. I have been completing my journey of three years. I am tinking that I should join Abhyas Academy in tenth class as I am seeing much improvement in Maths and English
Hridey Preet
9thAbout Abhyas metholodology the teachers are very nice and hardworking toward students.The Centre Head Mrs Anu Sethi is also a brilliant teacher.Abhyas has taught me how to overcome problems and has always taken my doubts and suppoeted me.
