A Monkey Economy: Cooperative Learning Group Activity |
South Africa Document Analysis Worksheet |
KWL for Introduction to Latin American Revolutions |
Think Pair Share India's Green Revolution |
Student Paper
World History
Comparison of the past and the present in India
According to recent news, India is expected to be one of the first countries to recover from the recession. Some economists predict India will grow faster than any other large country over the next 25 years because of the information technology revolution in India led by mobile connectivity and its cheap labor sources due to demographic dividends. However, not until few decades ago, economy in India was almost completely dependent on European powers, especially Britain. During colonial periods, British rule in India brought a major change in the taxation environment from revenue taxes to property taxes, resulting in mass impoverishment and destitution of majority of farmers and led to numerous famines. The economic policies of the British Raj, a direct rule by Britain Crown, effectively bankrupted India's large handicrafts industry and caused a massive drain of India's resources. As a response to harsh rule on economy by the British Raj, the National Congress of India enforced several economic policies creating institutional environment such as guarantee of property rights and establishing infrastructure in the country. However, during independence movement, due to turmoil inside India, independent economic development was implausible.
Now, India is facing new stage of its economic growth. As a member of BRICs, India is expected to become 3rd largest economy by 2012. Since Economic Liberalization of 1991, India has free market economy which is running by itself without any intervention of other foreign powers. Not only does India have strong self-sufficient economy, but also it now opens its economy, drawing various foreign direct investments in many sectors.
During independence movement, India suffered from inner political turmoil and division of the country. However, with its large population and emerging market of technology, India now becomes one of the world’s new power which can never be ignored.
Paper Based this article: The Economic Times: India Inc growth story gets better
0 comments:
Post a Comment