Indian Eco

1 - What kind of economic system did India have during 1947 to 1990?Wat atomic number 18 the impediments to completing this transformation? The model followed by India through 1947 to 1990 was basically the socialist Nehruvian model. This was characterized by the License Raj. a) - to the highest degree heavy application and petroleum production was under disk operating system owned enterprise. b) - deed of Steel and coal was under disposal (though some ploughshare was under private enterprise). c) - All Banks were nationalized. d) - foot of new products was very difficult and corruption ensured that import licenses would go to the one with upper limit political and economic clout, which instantly to oligarchy of few producers producing much of the goods that was consumed in India.   Impediments to changing of this system. The impediments were a) - worship of the humans sector employees of loosing their safe jobs. b) - Fear of takeover of most intentness b y Multinationals (Indira Gandhis Coca-Cola episode was an indicator). c) - capital influence in presents much(prenominal) as West Bengal and Kerela of Marxist ideology. d) - The entrenched vested interests of the bureaucracy. f) - Un competitive confined food market situation had led to overpriced poor shade goods.

Such companies feared they would be stinging out of the market (The mid-fifties vintage Ambassador gondola by Hindustan motors was a parapraxis in point.   2 - How capability public will force of billet and extensive government regulations match efficiency of state and private business, and the rate of new business formation in India during the 1947-90 ?Does these factors affect the rate of economic h! arvest-tide in India? As listed earlier, the overriding environment had promoted oligarchies where 4 or 5 businesses controlled most of the market from tea to cars to refrigerators. Public ownership of important and large enterprises had ensured the fight force had become ineffectual and the companies overstaffed. The excessive red tapism was deter new businesses from coming...If you want to maturate a full essay, gild it on our website: OrderEssay.net

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