UNIT IIII - NCERT

DEVELOPMENT POLICIES AND EXPERIENCE (1947-90)UNITIIIUNITI2022-23 The two chapters in this unit give us an overviewof the state of the Indian economy as it was at theeve of independence till after four decades ofplanned development, which was a path that Indiachose. This meant that the Government of Indiahad to take a series of steps such as theestablishment of the Planning Commission andannouncement of five year plans. An overview ofthe goals of five year plans and a critical appraisalof the merits and limitations of planned developmenthas been covered in this After studying this chapter, the learners will become familiar with the state of the Indian economy in 1947, theyear of India s Independence understand the factors that led to the underdevelopment andstagnation of the Indian ECONOMYON THEEVE OF INDEPENDENCE2022-234 INDIAN ECONOMIC INTRODUCTIONThe primary objective of this book,Indian Economic Development, is tofamiliarise you with the basic featuresof the Indian economy, and itsdevelopment, as it is today, in theaftermath of Independence.

development which the Indian economy has been able to attain over the last six and half decades. 1.2 1.2 LOW LEVEL OF ECONOMIC DEVELOPMENT UNDER THE COLONIAL RULE India had an independent economy before the advent of the British rule. Though agriculture was the main source of livelihood for most people, yet, the country’s economy was

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