The Economic Policy Regime in India Prior to 1991
The Indian economy struggled during its initial stages after independence. Due to many political, societal, and personal hindrances, the economy was stagnant. It took many years for the economy to stand up and work for itself. The postindependence period (1950 to 1990) was a very critical time for the country. It includes various steps that were important for the betterment of the country. In this chapter a bird’s eye view of important economic decisions taken between 1950 and 1990 has been presented. The rapid economic development strategy of postindependent India had been one of self-reliant industrialization under centralized investment planning. It had emphasized basic and heavy ...
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