The new policy aimed at the dismantling of controls over the economy with the state yielding to market economy. The masses had been facing a double-digit rate of inflation. Industry and agriculture were stagnant the financial sector was in doldrums a huge fiscal deficit was mounting with a massive foreign debt, eating into a major chunk of our resources. At that time Indian economy was undergoing a serious crisis. On Economic front, the Liberalised Economic Policy was introduced in 1991. This growth is to be achieved by 3.9 per cent growth in agriculture, 8.2 per cent in industry and 11.8 per cent in exports. It assumes the Incremental Capital Output Ratio (ICOR) of 4.3, saving rate of 26.1 per cent, Current Account Deficit of 2.1 per cent. The Plan aims at the growth rate of 6.5 per cent per annum for the Gross Domestic Product (GDP). The Plan, which covers the period 1997-2002, envisages a total outlay of Rs. The production of food grains increased from 52.2 million tones in 1951-52 to 199.32 million tons in 1996-97.Įncouraged by the success of eight Plans, India has now launched the Ninth Five-Year Plan. Both agricultural and industrial productions have increased considerably. Per capita income has been increased from Rs. ![]() These have imparted a measure of strength and stability to our economy. The fact in this process lies in the peaceful transfer of power every time which indeed symbolises the true democratic character of polity.ĭuring these years, we have successfully completed eight Five-Year Plans. ![]() In 1999, BJP-led National Democratic Alliance (NDA) came to power at the Centre. But in 1996, the United Front again came to power with the help of Congress. However, in 1991, Congress again captured the power at Centre by virtue of its being the largest single party. As a result of the elections held in 1989, National Front Government came to power at the Centre and in many States. General elections, based on universal adult franchise, have been held thirteen times during the last five decades. It also declared India a secular state and there is no discrimination against any person on grounds of religion, race, caste or creed. It declared Hindi as the National Language and 18 others as recognised regional languages. It guaranteed to secure for all its citizens justice, liberty, equality and fraternity. On January 26, 1950, India was declared a ‘Republic’ after adopting a new Constitution. The first goal achieved by free India was to consolidate the various units of the country and to absorb six hundred and odd princely States. But, thank God, all these difficulties were overcome with the help of our great leaders like Sardar Patel. Other Maharajas tried to form independent States. ![]() Razakaars in Hyderabad rebelled against our Government. At the same time, Pakistan unleased tribals to attack Kashmir, which had acceded to and become a part of India. The country was partitioned and millions of people were uprooted. When our independence was in its infancy, it had to face many hard and complex problems. Over the years, there have been many things to be proud of, but perhaps as many things to feel let down. ![]() In 1947, we threw out the British after a unique freedom struggle which gave the world the philosophy of non-violence. This is not a long time in the life of a nation, but it has been long enough to see the dramatic changes in all areas. Let us hope all these will be solved sooner rather than later.Īugmarked India completing its 50th Year of Independence. Still there are some acute problems such as poverty, illiteracy, unemployment, corruption, female foieticide , etc. Rich-poor disparity in incomes is abnormal. The burgeoning population has nullified much of the progress. In spite of this, there have been certain setbacks and certain intractable problems. India has shown her military power a number of times by inflicting crushing defeats on Pakistan in 1948, 1965, 19. India has also become a nuclear and space power and envisions to become a developed country by 2020. Means of information and communication and entertainment have been revolutionized and India has become a giant in the fields of information technology and telecommunications. which is so vital for infrastructure has been started on a large-scale. Heavy industry such as steel, cement, etc. New education, new machines, skills and courses have made India prosperous and an economic power to be reckoned with in the international arena.ĭemocracy has taken firm roots in India and a number of elections, by and large free and fair, have been held here over the years. Nov, there are cures even for those diseases which were previously thought to be incurable such as T.B, cholera, heart trouble, etc. Child mortality has greatly been reduced and life-span has been greatly increased. There has been a revolution in the medical science.
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