What were the main features of Indian economy on the eve of Independence?

On the eve of independence Indian economy was backward from industrial point of view there was deficiency of basic and heavy industries. Among heavy industries, there was Tata Iron and Steel industry. The production of machines in the country was negligible.

What are the main features of Indian economy?

India, as a developing country, features a mixed economy in the world. The major characteristics of developing economy are low per capita income, overpopulation, maximum population below the poverty line, poor infrastructure, agro-based economy and a lower rate of capital formation.

What were the features of Indian agriculture on the eve of Independence?

The condition of India’s agricultural sector on the eve of independence can be summed up with the following points – fragmented land ownership, outdated technology, rainfall dependant, low productivity, subsistence farming, and feud amongst landowners and cultivators.

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What was the state of industrial sector of the Indian economy on the eve of Independence?

The state of Indian industrial sector on the eve of independence was as follows: De-industrialisation—Decline of Indian Handicraft Industry. Britishers followed the policy of systematically de-industrialising India. The primary motive behind the de-industrialisation by the British government was two-fold.

What were the features of Indian economy during the British rule?

Indian agriculture remained completely traditional and primitive during the British rule from 1757 to 1947. Farm technology followed during those days was simple and no transformation was adopted into it. There was an increasing pressure on agricultural sector as there was a decline of urban handicrafts in India.

What are the two positive features of Indian economy?

1. Low per Capita Income: India’s per capita income is very less as compare to developed countries. 2. Agriculture Based Economy: Agriculture and allied sectors provide around 14.2% of Indian GDP while 53% of total Indian population is based on the agriculture sector.

How many are the characteristics of Indian economy?

Indian economy is characterised by too much dependence on agriculture and thus it is primary producing. Out of the total working population of our country, a very high proportion of it is engaged in agriculture and allied activities, which contributed a large share in the national income of our country.

What were the main problems faced by the Indian agriculture during the colonial period?

Here we detail about the thirteen major problems faced by Indian agriculture.

  • Inequality in Land Distribution: …
  • Land Tenure System: …
  • Sub-division and Fragmentation of holdings: …
  • Cropping Pattern: …
  • Instability and Fluctuations: …
  • Conditions of Agricultural Labourers: …
  • Poor Farming Techniques and Agricultural Practices:
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What are the causes of backwardness of Indian economy on the eve of Independence?

Cause of the backwardness of Indian economy at the time of independence. The first and most important reason is the exploitation of Indian resources by Britishers. Agricultural production was very low because outdated technology and means of production was used.

What is the meaning of Eve of Independence?

1 the proclamation made by the second American Continental Congress on July 4, 1776, which asserted the freedom and independence of the 13 Colonies from Great Britain. 2 the document formally recording this proclamation.

What is meant by stagnant economy class 12?

Stagnant means very slow or not moving. So, stagnant economy is when the growth of the economy stops and does not move or move very slow for a period of time. It is usually accompanied by many factors but the most important factor is unemployment.

What were the main reasons for slow growth of economy during British rule?

Explanation: ) The main reason for the slow rate of growth of population during the British rule were poverty, malnutrition, famines, epidemics and poor health facilities.

What is stagnant economy class 12th?

Economic growth of less than 2 to 3% annually is considered stagnation, and it is highlighted by periods of high unemployment and involuntary part-time employment. Stagnation can also occur on a smaller scale in specific industries or companies. 0Thank You. CBSE > Class 12 > Economics.

What were some negative impacts of British rule for India?

The British rule demolished India through, taxation on anything made in India, and the exportation of raw materials, which caused a plentiful amount of famine,and throughout all of this, the British kept most on India uneducated, and those they did educate, most were forced to become interpreters for the benefits it …

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Was India rich before British rule?

Before British Rule (1858)

Before the British ruled in India the East India trade company came to rule while India was very weak, The company made India one of the wealthiest countries in the world. … With the Industrial Revolution it only boosted their wealth’s and helped with their trade efforts.

Was British rule good or bad for India?

The British relied heavily on Indian troops to enforce their military power. Did India gain or lose from British rule? Some recent research suggests that British rule did little for India in economic terms. Britain gained hugely from ruling India, but most of the wealth created was not invested back into the country.

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