India's economic development from 1952 to 1990 focused on a mixed economy, with the Planning Commission emphasizing public sector reliance and protection of domestic industries through high import duties and import substitution measures. The achievements of economic planning in India include increasing national income, GDP growth, per capita income, savings, investments, and reduced unemployment rates, along with challenges like poverty, inflation, and inadequate infrastructure, with agricultural reforms such as the Green Revolution aiming to boost productivity and benefit low-income groups.
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India's economic planning, initiated in 1947 with the establishment of the Planning Commission, aimed at achieving self-sufficiency through protectionist measures like high import duties and import substitution, emphasizing the public sector for development.
The period from 1950 to 1990 in India witnessed significant economic growth, with notable increases in GDP, per capita income, savings, and investments, accompanied by diversification and growth in various industries, leading to reduced unemployment rates, although challenges like persistent poverty, inflation, and inadequate infrastructure remained prevalent.
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Recent questions
What is the economic system in India?
Mixed economy
What is the role of the Planning Commission in India?
Make major economic decisions
How did India promote domestic production?
High import duties
What were the goals of the Green Revolution in India?
Boost food production
How did India categorize industries under the Industrial Policy Resolution?