#Indian Economy on the Eve of Independence

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Shweta Gupta

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On the eve of Independence, the situation of Indian economy was stagnant. This is because of the policies that have been used during the colonial period. The three sectors of the economy; primary, secondary, and tertiary were in declining stage.
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In a nutshell, the social and economic challenges before the country were enormous. The agricultural sector was already saddled with surplus labour andextremely low productivity The industrial sector was crying for modernisation diversification capacity building and increased public investment Foreign...
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In a nutshell, the social and economic challenges before the country were enormous. The agricultural sector was already saddled with surplus labour andextremely low productivity The industrial sector was crying for modernisation diversification capacity building and increased public investment Foreign trade was oriented to feed the Industrial Revolution in Britain. Infrastructure facilities, including the famed railway network,needed up gradation expansion and public orientation Prevalence of rampant poverty and unemployment required welfare orientation of public economic policy read less
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