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Published online by Cambridge University Press: 05 December 2024
Indian Economics’ short-term development plan aimed to harness progress in the two main sectors of the economy – industry and agriculture. The peasants, factory workers and merchants needed specific policies to aid them in growing their crops, manufacturing their products and selling their goods, respectively. India needed agricultural production of raw materials, industrial production using raw materials, and distribution of the finished manufactured products. Indian Economics prescribed a balanced growth strategy, seen later in India’s post-independence five-year plans, the first of which was implemented by Jawaharlal Nehru (1889–1964) from 1951 to 1956.
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