The Political Economy of India’s Economic Changes since the last Century

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)103-132
Number of pages30
JournalArgumenta Oeconomica Cracoviensia
Volume19
DOIs
Publication statusPublished - 1 Feb 2018

Fingerprint

Economic change
Political economy
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{5725b933a23e4db6ae75589ffe09f75e,
title = "The Political Economy of India’s Economic Changes since the last Century",
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 = "Indian economy, Colonial period, Famines, Growth rates, Neo-liberal reforms",
author = "Kalim Siddiqui",
year = "2018",
month = "2",
day = "1",
doi = "10.15678/AOC.2018.1906",
language = "English",
volume = "19",
pages = "103--132",
journal = "Argumenta Oeconomica Cracoviensia",
issn = "1642-168X",
publisher = "PWN-Polish Scientific Publishers",

}

The Political Economy of India’s Economic Changes since the last Century. / Siddiqui, Kalim.

In: Argumenta Oeconomica Cracoviensia , Vol. 19, 01.02.2018, p. 103-132.

Research output: Contribution to journalArticle

TY - JOUR

T1 - The Political Economy of India’s Economic Changes since the last Century

AU - Siddiqui, Kalim

PY - 2018/2/1

Y1 - 2018/2/1

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 - Indian economy

KW - Colonial period

KW - Famines

KW - Growth rates

KW - Neo-liberal reforms

U2 - 10.15678/AOC.2018.1906

DO - 10.15678/AOC.2018.1906

M3 - Article

VL - 19

SP - 103

EP - 132

JO - Argumenta Oeconomica Cracoviensia

JF - Argumenta Oeconomica Cracoviensia

SN - 1642-168X

ER -