Indian Economy

Indian Economy
July 12, 2015 No Comments Uncategorized Preety Uzlain
Economic Planning in India

PLAN
TENURE
OBJECTIVES
GROWTH RATE (AVERAGE %)
GROWTH RATE (ACTUAL %)
First
1951-56
Development
of Agriculture
2.1
3.6
Second
1956-61
Rapid
Industrialization
4.5
4.27
Third
1961-66
Establishment
of Self-reliant and self-generating Economy
5.6
2.84
Three Annual
Plans
1966-69
Fourth
1969-74
Growth with
stability and progress towards self-reliance
5.7
3.30
Fifth
1974-78
Removal of
property (Garibi Hatao) and attainment of self-reliance
4.4
4.8
Rolling Plant
1978-80
Sixth
1980-85
Ensuring
continuous decreases in poverty and employment
5.2
5.66
Seventh
1985-90
Rapid growth
in food grains productions, increased employment opportunities
5.0
6.01
Eighth
1992-97
Rapid
Economic growth, high growth of agriculture and oiled sector.
5.6
6.5
Ninth
1997-02
Growth with
social justice and social equality
6.5
5.4
Tenth
2002-07
Development
of infrastructure, employment and energy resources
8.6
7.6
Eleventh
2007-12
With rapid
economic development increase in per capita income and growth
9.0
Agriculture and Industry
Green
Revolution
·        
Indian Green revolution is associated with the use of
HYVS (High Yielding Variety Seeds), chemical fertilizers and new technology
which led to a sharp rise in agriculture production during the middle of 1960.
·        
The credit of this goes not only to Nobel Laureate Dr.
Norman Borlaug, but also to Dr. MS Swaminathan.
Other Revolution
REVOLUTION
AREA
Yellow Revolution
Oil Seeds
White Revolution
Milk
Blue Revolution
Fish
Pink Revolution
Shrimp/Meat
Brown Revolution
Non-conventional energy resources
Grey Revolution
Wool
Golden Revolution
Horticulture
Important Industries of India
Iron &
Steel Industry
·        
1st Steel Industry was established at
Kulti, near Jharia, West Bengal as ‘Bengal Iron Works Company’ in 1870.
·        
1st large scale steel plant – TISCO at
Jamshedpur in 1907 followed by TISCO at burnpur in 1919, both belonged to
private sector.
·        
The first public sector unit was ‘Vishveshvarayya Iron
& Steel Works’ at Bhadrawati.
Public Sectors Steel Plants
LOCATION
ASSIATANCE
Rourkela (Orissa)
Germany
Bhilai (MP)
Russian Govt
Durgapur (WB)
British Govt
Bokaro (Jharkhand)
Russian Govt
Burnpur (WB)
Acquired from
Private sector in 1976
Vishakhapatnam
(AP)
Russian Govt
Salem (Tamil
Nadu)
Vijai Nagar (Karnataka)
Bhadrawali (Karnataka)
Nationalization
of Vishveshvarayya Iron & Steel Ltd (Owned by Central and State Govt)
Jute
Industry
·        
1st first modernized industrial unit was
established at Reshra in West Bengal in 1855.
·        
The Jute industry in the country is traditionally
export oriented. India ranks number one in raw jute and jute goods production
and number two in export of jute goods in the world.
Cotton and
Textile Industry
·        
Oldest industry of India, and employs largest number
of workers.
·        
The first Indian modernized cotton cloth mill was
established in 1818 at Fort Gloaster near Kolkata but this mill was not
successful. The second mill named ‘Bombay Spinning and Weaving Co.’ was
established in 1854 at Bombay by KGN Daber.
Sugar
Industry
·        
Sugar Industry is the second largest industry after
cotton textile industry among agriculture based industries in the country.
·        
India is now the largest producer and consumer of
sugar in the world. Maharashtra contributes over one-third of the total sugar
output, followed closely by UP.
Silk
Industry
·        
India is the second largest (first being China)
country in the world in producing natural silk. At present, India produces
about 16% silk of the world.
Petroleum
& Natural Gas
·        
First successful oil well was dug in India in 1889 at
Digboi, Asom.
·        
For exploration purpose, Oil & Natural Gas
Commission (ONGC) was established in 1956 at Dehradun, Uttrakhand.
Structure of
Taxes
Direct Taxes
·        
Include taxes on income and property, the important
ones being personal income tax, corporate tax, estate duty and wealth tax.
Indirect
Taxes
·        
Include Sales tax, Excise Duties, Customs Duties, etc.
·        
The Government of India earns maximum from Union
Excise Duty.
About The Author
Preety Uzlain Preety Uzlain, MBA-Business Management, Director, CEO & Founder of SHAKSHARTA Digital Learning Private Limited. She has done BCA, MBA and Pursuing Doctorate as per my education qualification and has been one of the main proponents of www.govtjobspreparation.com & www.sarkarinaukri.asia for several years SINCE 2009.

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