India's Economic Policy

Since independence the Indian government has attempted to pursue a mixed economic policy with features of both a free market and socialist planning. Major industries such as railroads, automobile manufacturing, and banking are government run. At the same time, many consumer-goods industries and agriculture are in private hands. The center of the planned economy has been a series of five-year plans fostering state takeover of the former British colonial economic structure. Under India's first prime minister, Jawaharlal NEHRU, the plans stressed heavy industry, often at the expense of agriculture. Today India ranks among the top ten industrial nations of the world and has an increasingly ...

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sets. Steel production has more than doubled since 1960. India is self-sufficient in iron and coal but is heavily dependent on foreign oil.
India's chief energy sources are coal (26%), petroleum (49%), and electricity (25%). Some 156 billion kw of electricity were generated in 1987, which still far short of demand. Only 65% of India's villages are electrified, and electrical outages are a common feature of big-city life. The leading sources of power are thermal and hydroelectric. The government has made a commitment to nuclear energy, which provides a little over 3% of total power production.
The majority of Indians ear their livelihood from the land, and agriculture accounts for about 35% of national income. About half of the land is arable, and two crops are normal where water and climate permit. The chief summer monsoon (kharif) crops are rice and millet. The major winter (rabi) crops are wheat and pulses. India is the world's second largest rice producer and ...

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India's Economic Policy. (2004, October 25). Retrieved April 19, 2021, from
"India's Economic Policy.", 25 Oct. 2004. Web. 19 Apr. 2021. <>
"India's Economic Policy." October 25, 2004. Accessed April 19, 2021.
"India's Economic Policy." October 25, 2004. Accessed April 19, 2021.
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Added: 10/25/2004 05:55:48 AM
Category: Geography
Type: Premium Paper
Words: 402
Pages: 2

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