Analyzing Development Approaches under Nehru Regime (1947- 1964)
Introduction India's Economy, like any other in the world, has experienced its ups and downs since its inception. For nearly 200 years, colonial powers exploited India. Environmental damage, ethnic rivalries, human rights violations, and massive economic instability and inequality were all consequences of European colonialism. When India was on the cusp of independence from the British in the mid-twentieth century, its situation was dire in every way. The worldwide proportion of GDP had decreased from 25% during its golden period to only 3% at the time of independence, and the Indian markets have been saturated with low-cost machine-made goods. The Indian handicraft and textile industries, which once dominated, have declined. About 70% of the national income came from agricultural activities, besides the productivity and output per hectare were very low. This lead to a meagre yield of output irrespective of the large cultivation area. Further, the manufacturing and se...
