Best answer: What model of development was followed in India after independence?

Which economic system is followed in India after independence?

The economic system of Socialism.

What is the Indian model of development?

The Indian model of development – prin- cipally driven by rapid expansion of high-end knowledge-intensive sectors (IT, biotech, business/ knowledge process outsourcing and other similar services) – comes with a tragic neglect of low-end labour-intensive mass manufactures.

What are the major development of Indian education after independence?

During the period of planning there has been expansion of general education. In 1951, the percentage of literacy was 19.3. In 2001 the literacy percentage increased to 65.4%. The enrolment ratio of children in the age group of 6-11 was 43% in 1951 and in it became 100% in 2001.

What are the major developments in India?

8 key developments in India

  • HISTORIC TAX REFORM. The Goods and Services Tax (GST) came into effect across India from 01 July 2017. …
  • DIGITISATION DRIVE. …
  • NEW INSOLVENCY CODE. …
  • INSTITUTIONAL REFORMS. …
  • RADICAL CHANGES IN FDI POLICY REGIME. …
  • INFRASTRUCTURE PUSH. …
  • TECHNOLOGY READINESS. …
  • RENEWABLE ENERGY.
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Why did India adopt planning for development after independence?

After independence, India had to make an important choice of economic system and opt either for capitalism or socialism. … Planning was undertaken to make public sector work towards the basic economic framework and to encourage private sector firms for their active contribution to the economic growth.

In what ways has India developed since independence What are the areas that still need to be developed?

Development in India After Independence

  • Service Sector Growth. Telecom and software development had most of the growth in the nation’s services sector. …
  • Agriculture Sector Growth. …
  • Infrastructure Development. …
  • Education sector. …
  • Health care sector. …
  • Scientific achievements.

Which strategies were adopted after independence for development of Indian economy?

The government in the 1950s adopted a very particular strategy of economic development: rapid industrialization by implementing centrally prepared five-year plans that involved raising a massive amount of resources and investing them in the creation of large industrial state-owned enterprises (SOEs).

How was the economic development of India Visualised in the early decades after independence?

The economic development of India visualised in the early decades after Independence were: … → Planning Commission and Five Year Plans: A Planning Commission was set up to help design and execute suitable policies for economic development. → Mixed-economy: A mixed-economy model was agreed upon.

What are the main features of Indian economy after independence?

India, as a developing country, features a mixed economy in the world. The major characteristics of developing economy are low per capita income, overpopulation, maximum population below the poverty line, poor infrastructure, agro-based economy and a lower rate of capital formation.

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