Indian economic conditions have changed very widely since its departure in the year 1947 from Britain. Summary De-industrialization to Industrial Growth: A Colonial Legacy This British rule completely de-industrialized India which concentrated more and more on material extraction and its agricultureRead more
Indian economic conditions have changed very widely since its departure in the year 1947 from Britain.
Summary De-industrialization to Industrial Growth: A Colonial Legacy This British rule completely de-industrialized India which concentrated more and more on material extraction and its agriculture production primarily for British colonies. Indian industry was not so well.
Post-Independence: India took to planned economic development where the emphasis is placed on the growth of the industries. It has provided opportunities for building up public sector undertakings also for the establishment of heavy industries.
Agrarian Reforms:
Land Reforms: This area underwent reforms with a plan to right the imbalances brought about because of land holding inequality and land getting into the hands of such poor farmers who have none.
Green Revolution: The green revolution of the 1960s and 1970s increased productivity in agriculture but created side effects related to environmental issues and reliance on chemical fertilizers.
Economic Liberalization:
1991 Reforms: India implemented the most important economic liberalizations in 1991. The Indian economy was opened up to foreign investment; government control would reduce and privatization at various levels would be promoted.
This led to economic growth with increased income inequalities and social effects.
Problems
Poverty and Inequality: Issues of poverty and inequality remain even after economic growth has been achieved.
Unemployment: Youth unemployment is extremely high and thus a big issue.
Infrastructure Development: It has improved but remains woeful in many aspects of infrastructural development, especially in the rural region.
Recent Trends:
-Heavy attention on Digital Economy: India is heavily focusing on digital economy with initiatives like “Digital India,” which focuses on making the country digitally literate and innovative.
-Rise of Service Sectors: It has emerged to be the most important sector showing an acceleration trend of the economic growth within India and among those sectors, it has been IT and IT-enabled services which have been the single most effective drivers.
Kerala faces significant environmental and socio-economic challenges. The state’s hilly areas, like wayanad, are highly susceptible to landslides, especially during the monsoon season. The recent landslide in wayanad, one of the deadliest, caused major loss of life and injuries. Coastal areas are alRead more
Kerala faces significant environmental and socio-economic challenges. The state’s hilly areas, like wayanad, are highly susceptible to landslides, especially during the monsoon season. The recent landslide in wayanad, one of the deadliest, caused major loss of life and injuries. Coastal areas are also at risk due to rising sea levels and erosion. Kerala faces some tough socio-economic problems, including low human development indicators and a high population density. It’s challenging to balance development with protecting the environment. The state government has taken steps to address these issues. For example, the state action plan on climate change is meant to tackle climate problems, but it needs to be properly put into action to work effectively. The state also responds to calamities with effective rescue and relief activities, and expenditures in health and education have resulted in increased general well-being. However, issues remain. Despite warnings, some people continue to live in high-risk locations, demonstrating gaps in risk communication. Properly executing climate action strategies is critical to long-term success. The latest landslide emphasizes the critical necessity for preemptive actions to protect lives and mitigate environmental threats.
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