Indian Economy on the Eve of Independence (PDF)

View, add and edit your notes in the app Indian economy on the eve of independence | One Shot | Chapter 1 | Indian economic development Generated on December 1, 2024 Summary AI Notes AI Slides Text Notes Screenshots 0 1...

View, add and edit your notes in the app Indian economy on the eve of independence | One Shot | Chapter 1 | Indian economic development Generated on December 1, 2024 Summary AI Notes AI Slides Text Notes Screenshots 0 1 9 1 The study will cover the agricultural calculations, government plans and budgets over 40 years leading up to 1991, followed by an analysis of developments from 1991 to the present in preparation for upcoming examinations. 4:59  The syllabus includes an overview of Indian economic conditions, the problems faced by the economy, and a comparison of India's current standing, starting with a focus on the Indian economy before independence. 5:08 Aim of British for using India: Use it as a feeder economy for its own economy exploit india’s resources 8:50 Before British rule India was : Prosperous economy Agrarian Economy Well-Known handicraft industrues 9:59 Types of sectors in India : 1. Agriculture 2. Industrial  3. Foreign Trade 11:22 Agricultural Sector : 85% of population lived in villages 75% did agriculture still not self sufficient in food Main Reasons for Stagnation in Agriculture Land Settlement System Zamindari System zamindars had to pay fixed rent to britishers so they exploited cultivators in form of ‘lagaan’ Commercialization of Agriculture britishers wanted people to produce cash crops instead of food crops they were paid high cash for it but it destroyed land quality Low Level of Productivity no technology all we depend on was rain no irrigation facilities, no fertilizers govt and landlords dgaf and no investment Scarcity of Investment no investment in tech flood control, terracing no investment in farming techniques  12:00 Industrial Sector : no capital good industries only handicraft industries Industrial Sector during British: De-Industrialization Exported raw materials to Britian for cheap rates or tax free rates Made machine made goods and imported to india tax free and sold at higher prices Indian made stuff were imposed heavy taxes for export Adverse Effects of Decline of Handicraft Industry High level of Unemployment Importer Of Finished Goods Lack of Capital Goods Industries no machine built industries in india british wanted indians dependent on them for machine made goods Low contribution to GDP Growth of the new indsutrial sector provided very little to the GDP Limited Role of the Public Sector no public investment for industrial base they gave only railways, power generation and communications (which was for them only  19:28 Foreign Trade: we were an important figure in trading but due to british policies it affected it badly Reasons: Exporter of Primary goods and Importer of Finished Goods india exported raw materials and imported finished goods machine made btw Monopoly Control Of British Rule half of indias foreign trade was to britian others were china, srilanka and iran opened suez canal in 1869 for amazon delivery Drain On Indian Wealth export surplus was used to setup offices war expenses import of services 25:15 Demographic Conditions 1st official census - 1881 1921 - the great divide The Conditions Were: 1. High Birth/Death Rate Birth Rate - 48 per thousand  Death Rate 40 Per thousand 2. Low Literacy Rate 7 per cent very literate 3. Poor Health Facilities lack of medical facilities if ti was available it was highly inadequate 4. High Mortality rate 218 per thousand 5. Low Life Expectancy 32 years of life 6. Widespread Poverty lot poor and less common stand people 32:07 so for infrastructure we have Roads (army mobilzation) Railways ( effective control over indian territory) Communication (maintain law and order) 37:00 Positive Contribution of British Rule : 1. Growth In agriculatural sector due to expansion of aggregate area development of tea and stuff due to commericalization 2. Better transports roads and railways gave cheap transport 3. Check on famines quick transport to famines in terms of help and stuff 4. Shift to monetary ecnomy no barter system and introduction to money 5. Effective administrative setup : british gave effiecent adminstration system 37:43