Economic Development in India After Independence

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Freedom is never dear to any price. It is the breath of life. What would a man not pay for living? - Mahatma Gandhi India got independence after struggles to keep India Independent from external authority and to take control of our own destiny in our hands. From the makers of the Constitution to implementation, execution of orders, and establishing democracy, the country has witnessed ups and downs. But the constant progress has helped in achieving what the Indians have. With the passage of time, India is getting back it's status on a global level.

 

Economic Development in India after Independence - Increase in Gross Domestic Product (GDP) After Independence, the Indian government tried to patch up all the loopholes and tried to raise the growth of the country. The outcome has been depicted as the Gross domestic product (GDP) increased from 2939 billion from 1950-51 to Rs. 56330 billion during 2011-12 while in 2018-19 tremendous increase in growth of GDP has been observed as rupees 140 776 billion approx.

 

Agriculture products and allied sectors development: Indians were dependent upon the agriculture sector and allied sectors. There was not much-advanced technology or a developing economy. But the growth of the agriculture sector from Rs. 41,225 during 2011-12 to 92,565 during 2018-19 as depicted the enhancement in the Agricultural sector. 

 

Liberalization, privatization, and globalization (LPG): This term has helped the country to enhance its technology and attracted foreign industries to set up in India. This term has been evolved through the new economic policy of 1991 as a result of which, India has observed a tremendous increase in the growth of industries since independence. Bank sectors, Conventional services IT industry hotel transport, and communication have also increased in the past years.

 

Infrastructure development: British government has established railways and contributed to infrastructure development but the country has worked over the past years to establish a better transport Network and to connect all the rural areas with urban areas. The outcome is that the length of road has been increased from 0.4 kilometers in the year 1950 to around 5.9 km during 2016-17. India has actually witnessed sustainable development although they faced problems overall development has been appreciated as hydro, thermal, and nuclear sectors have also witnessed growth.

 

 

 

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