Economic Development of India. Problems Build Agriculture and Industry Build Agriculture and Industry –Food and manufactured goods.

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Presentation transcript:

Economic Development of India

Problems Build Agriculture and Industry Build Agriculture and Industry –Food and manufactured goods

Problems Agriculture: Agriculture: –Poor soil –Inefficient farming methods –Needed to increase crop output –Land distribution –Tenant farming –overpopulation

Problems Industry: –Dependence on imported manufactured goods, machines, and oil –Gov’t run businesses inefficient –Limited foreign investment

Solutions Gov’t took lead to develop Agriculture and Industry Gov’t took lead to develop Agriculture and Industry

Solutions Nehru: Nehru: –Socialist principles –series of five year plans with limited foreign investment – mixed economy –Factories to produce manufactured goods –gov’t: steel, mining, textile, transportation, energy –private: consumer goods

Solutions Rajiv: Rajiv: –liberalized economy: stimulated economic growth in India stimulated economic growth in India Encouraged private enterprise Encouraged private enterprise –Foreign partnerships

Solutions moved from socialism (Nehru ) to free/private enterprise and the liberalization of the economy (Rajiv Gandhi 1980) moved from socialism (Nehru ) to free/private enterprise and the liberalization of the economy (Rajiv Gandhi 1980) Agriculture: Agriculture: –gov’t irrigation systems –New machines –Green Revolution (video): use technology to increase output of crops Green RevolutionGreen Revolution –Land reform

India’s Economic Goal create a modern industrialized nation create a modern industrialized nation self sufficient self sufficient –Video - India's Economy: The Road Ahead India's Economy: The Road AheadIndia's Economy: The Road Ahead

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