A century of India’s economic transformation

a critical review

Research output: Contribution to journalArticle

Abstract

The objective of this study is to examine India’s transformation from a colonial to a modern economy on the basis of the macro-economic level changes that have occurred over the last century. This is important because it will help us to understand the associated growth performance and its impact on sectoral changes and employment in the wider context of developing economies such as India. The methodology to be followed here is derived from the aims of the study and comparisons of international statistics that provide the means by which to address the research questions and the objectives of this paper. The study found that during the colonial period, the Indian economy became subservient rather than sovereign in terms of policy matters. As a result, economic development was hampered by the removal of ‘surplus’, along with very high land rents and tribute charges. A densely populated country like India was drawn into the orbit of exploitation in the mid-18th century. Soon after independence in 1947, the Indian government took a number of initiatives to enhance industrial and agricultural development, but the biggest failure was that it did not make any real impression on the country’s huge unemployment problems.
Original languageEnglish
Pages (from-to)407-428
Number of pages22
JournalJournal of Perspectives on Financing and Regional Development
Volume6
Issue number4
DOIs
Publication statusPublished - 8 Mar 2019

Fingerprint

Economic transformation
India
Unemployment
Charge
Exploitation
Indian economy
Methodology
Developing economies
Industrial development
Statistics
Agricultural development
Land rent
18th century
Macroeconomics
Economic development
Government
Surplus

Cite this

@article{4f6d7d07ba664d17861d760e12605ad8,
title = "A century of India’s economic transformation: a critical review",
abstract = "The objective of this study is to examine India’s transformation from a colonial to a modern economy on the basis of the macro-economic level changes that have occurred over the last century. This is important because it will help us to understand the associated growth performance and its impact on sectoral changes and employment in the wider context of developing economies such as India. The methodology to be followed here is derived from the aims of the study and comparisons of international statistics that provide the means by which to address the research questions and the objectives of this paper. The study found that during the colonial period, the Indian economy became subservient rather than sovereign in terms of policy matters. As a result, economic development was hampered by the removal of ‘surplus’, along with very high land rents and tribute charges. A densely populated country like India was drawn into the orbit of exploitation in the mid-18th century. Soon after independence in 1947, the Indian government took a number of initiatives to enhance industrial and agricultural development, but the biggest failure was that it did not make any real impression on the country’s huge unemployment problems.",
keywords = "Economic benefits, Indian economy, Historical analysis, Colonial period, Famines, Growth rates, Neoliberal reforms",
author = "Kalim Siddiqui",
year = "2019",
month = "3",
day = "8",
doi = "10.22437/ppd.v6i4.6249",
language = "English",
volume = "6",
pages = "407--428",
journal = "Journal of Perspectives on Financing and Regional Development",
issn = "2338-4603",
number = "4",

}

A century of India’s economic transformation : a critical review. / Siddiqui, Kalim.

In: Journal of Perspectives on Financing and Regional Development, Vol. 6, No. 4, 08.03.2019, p. 407-428.

Research output: Contribution to journalArticle

TY - JOUR

T1 - A century of India’s economic transformation

T2 - a critical review

AU - Siddiqui, Kalim

PY - 2019/3/8

Y1 - 2019/3/8

N2 - The objective of this study is to examine India’s transformation from a colonial to a modern economy on the basis of the macro-economic level changes that have occurred over the last century. This is important because it will help us to understand the associated growth performance and its impact on sectoral changes and employment in the wider context of developing economies such as India. The methodology to be followed here is derived from the aims of the study and comparisons of international statistics that provide the means by which to address the research questions and the objectives of this paper. The study found that during the colonial period, the Indian economy became subservient rather than sovereign in terms of policy matters. As a result, economic development was hampered by the removal of ‘surplus’, along with very high land rents and tribute charges. A densely populated country like India was drawn into the orbit of exploitation in the mid-18th century. Soon after independence in 1947, the Indian government took a number of initiatives to enhance industrial and agricultural development, but the biggest failure was that it did not make any real impression on the country’s huge unemployment problems.

AB - The objective of this study is to examine India’s transformation from a colonial to a modern economy on the basis of the macro-economic level changes that have occurred over the last century. This is important because it will help us to understand the associated growth performance and its impact on sectoral changes and employment in the wider context of developing economies such as India. The methodology to be followed here is derived from the aims of the study and comparisons of international statistics that provide the means by which to address the research questions and the objectives of this paper. The study found that during the colonial period, the Indian economy became subservient rather than sovereign in terms of policy matters. As a result, economic development was hampered by the removal of ‘surplus’, along with very high land rents and tribute charges. A densely populated country like India was drawn into the orbit of exploitation in the mid-18th century. Soon after independence in 1947, the Indian government took a number of initiatives to enhance industrial and agricultural development, but the biggest failure was that it did not make any real impression on the country’s huge unemployment problems.

KW - Economic benefits

KW - Indian economy

KW - Historical analysis

KW - Colonial period

KW - Famines

KW - Growth rates

KW - Neoliberal reforms

U2 - 10.22437/ppd.v6i4.6249

DO - 10.22437/ppd.v6i4.6249

M3 - Article

VL - 6

SP - 407

EP - 428

JO - Journal of Perspectives on Financing and Regional Development

JF - Journal of Perspectives on Financing and Regional Development

SN - 2338-4603

IS - 4

ER -