It is all about Indian economy

1. Indian Economy (1950-1990)
• Evolution, Planning, and Policy Decisions
• Prepared by: [Your Name]

2. Introduction
• • India gained independence on August 15,
1947
• • Leaders had to decide on an economic
system
• • Mixed economy chosen:
• - Public Sector for key industries
• - Private Sector for consumer goods

3. Economic Systems
• • Capitalist Economy – Market-driven, private
ownership
• • Socialist Economy – Government controls all
production
• • Mixed Economy – Combination of both
(India's choice)

4. Five-Year Plans
• • Introduced in 1951 by the Planning
Commission
• • Goals of five-year plans:
• 1. Growth – Increase in GDP
• 2. Modernization – Adoption of new
technology
• 3. Self-reliance – Reducing dependence on
imports
• 4. Equity – Reducing economic inequalities

5. Agriculture Sector Policies
• • Land Reforms
• - Abolition of zamindari system
• - Land ceiling to prevent concentration of
land ownership
• • Green Revolution (1960s-80s)
• - High-Yielding Variety (HYV) seeds
• - Increased food grain production
• - India became self-sufficient in food

6. Industrial Sector Policies
• • Industrial Policy Resolution (1956)
• - Categorized industries:
• 1. Public sector – Key industries (iron, steel,
coal, etc.)
• 2. Private sector – Supplementary role
• 3. Small-scale industries – Encouraged for
employment
• • Public Sector Enterprises
• - Controlled major industries

7. Trade Policy – Import Substitution
• • Aim: Reduce reliance on foreign goods
• • Protectionism
• - High tariffs on imports
• - Quotas restricting import quantities
• • Impact
• - Helped local industries grow
• - But led to inefficiency due to lack of
competition

8. Challenges and Criticism
• • Agriculture
• - Land reforms not fully effective
• - 65% population still dependent on
agriculture by 1990
• • Industry
• - Public sector monopolies led to
inefficiencies
• - Licensing system (License Raj) restricted
private growth

9. Conclusion
• • Progress between 1950-1990:
• - Increased agricultural and industrial output
• - India became self-sufficient in food
• • Problems that led to reforms in 1991:
• - Bureaucratic inefficiency
• - Poor quality of goods
• - High government expenditure on subsidies

10. Discussion & Questions
• • Was the mixed economy model successful?
• • Should the government have focused more
on privatization earlier?
• • How did the Green Revolution change India’s
economy?