Since Independence, India has implemented a series of economic plans, introduced to direct the recovery period but later expanded to provide for generally increasing governmental direction of the economy. Before independence, not much was done neither by Muslim rulers nor by Britishers for the development of Indian masses. After around six decades of independence, India stands at number four in the list of world’s largest economies. Education is a key driver for development and low literacy levels in some parts of the country are dragging the country's economic progress. Illiteracy leads to low income and hardly profitable economic activities that have no place in the 21st century. Low education standards is a key factor in increasing unemployment issues in India.
The economic and social development of India was dominated by socialist-influenced policies, state-owned sectors, and rich businessmen in India. India is regarded as the world's biggest democracy and second most populous country. It has posted a remarkable record of development socially, economically and politically since when we gained independence nearly seven years ago. Though some aspects of India are world class, most of the issues affecting the majority of the citizens are still indicators of a developing nation. Therefore, this article attempts to prove that India is a developing country and she needs to do much to be a spot on the table of developed countries. Education standards in India are low, especially in the northern states. India is still struggling with the problem of illiteracy in some areas. Britishers, however, did launch some development programmes and enacted some laws to bring changes in the social and material life of the people of India. All three sectors in our country have skilled laborers/professionals who have been working hard to build the country’s economy.
INCREDIBLE DEVELOPMENTS IN INDIA :
TAX REFORM - GST
The Goods and Services Tax (GST) came into effect across India since 2017. Paying taxes has become easier in India because of factors like the introduction of GST and digitization of processes. The GST has been applied in India under the ministry of honorable Prime Minister Narendra Modi.It is a destination based tax on consumption of goods and services.
A new online system has also streamlined the process for getting construction permits, reducing both the number of procedures and the time required to get a permit. This last step has improved India's ranking on the Construction Permits indicator of the World Bank Doing Business Report.
A social revolution is brewing in India under the moniker JAM: Jan Dhan Yojana for financial inclusion, Aadhaar biometric identification, and mobile telecommunications.The agrarian structure in our country on the eve of independence is characterized by semi-feudal landlordism on one side and almost landless laborers on the other.
Infrastructure development plays a very significant role in the economic growth of a nation. Taking examples from other countries, a fast-growing economy drives demand and lead to even faster development of infrastructure. Programmes to build infrastructure and connect India are picking up pace. New railway lines have been constructed in 2017 at an expenditure of Rs4,531.93 crore. A five-year plan to build 83,677 km of roads has begun.
India is World #4 in terms of installed capacity to harness power from wind, and World #6 in terms of installed solar power capacity. As a developing country with the world’s second highest population, India is facing a nationwide shortage of power supply. It is very essential to make optimum use of all available resources of power inside the nation
India has a strong legal system and many English-language speakers this has been a key to attracting inward investment from companies such as those specializing in IT outsourcing.
India's high population is also a huge barrier in the way of their development. We must institute a plan to contain and reduce the population as a bigger population will pose challenges and slow the development. One child policy can be used to control the population explosion.
Concisely, India has made major strides in development since we became independent. Indiana's also become a recognizable country regionally and internationally for her economic growth. However, she still has a way to go to book her spot in the top list of developed countries. This article highlights all the developments done in our country and possible ways to adapt fats track progress.