Industrial Revolution in India
1566 Words Essay on Industrial Revolution in India
by Dipti
digg
In any country, be it least developed under developed or advanced, the industrial sectors from the sheet anchor for the generation and development of country’s productive forces. There is a strong case for industrialization of countries like India which has vast manpower, large and varied resources and continental dimensions.
The first plan was not as important as far as industrial development is concerned. Of the total expenditure of Rs. 1,960 crores in the plan the industrial sector received Rs. 55 crores which was 2.8 percent during the second five year plan (1956-61).
Three new plants were set up in the public sector and the capacity of the two existing steel works in the private sector was doubled. In this plan new steel plants got a severe jolt. The share of industrial sector was Rs. 938 crore which is 20.1 per cent of the total plan and three plans the progress was significant.
Thereafter for nearly three years, the economy was subjected to considerable stress and strain. Many industries were severely affected by the shortage of raw materials and exponent arising from the pause in external aid in 1965.
Total expenditure under the third plan was Rs. 8577 crore of which the share of industrial sector was Rs. 1,726 (20.1 percent). In the fourth plan (1969-74) the performance of the industrial sector fell short of expectation, both in terms of production and investment.
On an average, the growth rate in industry was around 5 percent which was much below the targeted growth rate of 8 percent envisaged in the plan. Main objectives of fifth plan (1979-80) were self-reliance and growth with social justice. The revised fifth plan provided a total outlay of Rs. 10,135 crore in organized industry and mining.
This accounted for nearly 26 percent of the public sector outlay of the fifth plan. During this annual growth rate was only 5.3% which was much below the target. The
by Dipti
digg
In any country, be it least developed under developed or advanced, the industrial sectors from the sheet anchor for the generation and development of country’s productive forces. There is a strong case for industrialization of countries like India which has vast manpower, large and varied resources and continental dimensions.
The first plan was not as important as far as industrial development is concerned. Of the total expenditure of Rs. 1,960 crores in the plan the industrial sector received Rs. 55 crores which was 2.8 percent during the second five year plan (1956-61).
Three new plants were set up in the public sector and the capacity of the two existing steel works in the private sector was doubled. In this plan new steel plants got a severe jolt. The share of industrial sector was Rs. 938 crore which is 20.1 per cent of the total plan and three plans the progress was significant.
Thereafter for nearly three years, the economy was subjected to considerable stress and strain. Many industries were severely affected by the shortage of raw materials and exponent arising from the pause in external aid in 1965.
Total expenditure under the third plan was Rs. 8577 crore of which the share of industrial sector was Rs. 1,726 (20.1 percent). In the fourth plan (1969-74) the performance of the industrial sector fell short of expectation, both in terms of production and investment.
On an average, the growth rate in industry was around 5 percent which was much below the targeted growth rate of 8 percent envisaged in the plan. Main objectives of fifth plan (1979-80) were self-reliance and growth with social justice. The revised fifth plan provided a total outlay of Rs. 10,135 crore in organized industry and mining.
This accounted for nearly 26 percent of the public sector outlay of the fifth plan. During this annual growth rate was only 5.3% which was much below the target. The