Economic Development of India

1
Economic Development of India
2
Problems

• Build Agriculture and Industry
• Food and manufactured goods

3
Problems

• Agriculture
• Poor soil
• Inefficient farming methods
• Needed to increase crop output
• Land distribution
• Tenant farming
• overpopulation

4
Problems

• Industry
• Dependence on imported manufactured goods,
  machines, and oil
• Govt run businesses inefficient
• Limited foreign investment

5
Solutions

• Govt took lead to develop Agriculture and
  Industry

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Solutions

• Nehru
• Socialist principles
• series of five year plans with limited foreign
  investment mixed economy
• Factories to produce manufactured goods
• govt steel, mining, textile, transportation,
  energy
• private consumer goods

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Solutions

• Rajiv
• liberalized economy
• stimulated economic growth in India
• Encouraged private enterprise
• Foreign partnerships

8
Solutions

• moved from socialism (Nehru 1950-60) to
  free/private enterprise and the liberalization of
  the economy (Rajiv Gandhi 1980)
• Agriculture
• govt irrigation systems
• New machines
• Green Revolution (video) use technology to
  increase output of crops
• Land reform

9
Indias Economic Goal

• create a modern industrialized nation
• self sufficient
• Video - India's Economy The Road Ahead