Role of Students in Modern Society

Topics: Economics, India, British Raj Pages: 4 (1004 words) Published: August 4, 2012
The Economic Growth of India from 1800 to Today

A Theoretical Approach to the Indian Economy by CT Kurien.

Poverty Alleviation in India: Policies and Programs by Abdul Aziz.

Aggregate  Savings of the Indian Economy by PK Mitra.

An Indian Rural Economy 1880-1955 : The Tamilnadu Countryside by Christopher John Baker.

The economic growth of India has has gone through many ups and downs throughout the country's history. With the main income of the land being sea trade and agriculture, India prospered a lot during and before British rule. However, much of the goods of the land, for example gold, were taken from the land when south Asia was handed over to India and Pakistan in August 1947. The violence taking place during the partition diverted the people’s attention from economics of the time to safety and land rights, and mostly what remains of Indian economics today is what was established during the British rule. The economy of India was affected by three major types of influences in the past, namely the economic system, social system, and political system.

Firstly, we shall discuss the influence of the history of the economic structure of India on its economy. Before the last decade, India was probably on the short list of the countries with the worst economic systems of almost every economist outside of India. India had and probably still has a parasitical class of politicians and bureaucrats that micromanage the economy in the interests of their class. They hypocritically declare that they are doing what they are doing in the interest of the people of India. There has been some official allegiance to socialism with a goal of achieving it through Stalinist central planning. The fact that the result has been some horrible mixture of state capitalism and moribund corporatism is usually attributed to incompetence and ineptitude on the part of the bureaucracy. The Indian American economist Jagdish Baghwati of Columbia University remarked...
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