Category Archives: Indian Economy

Different Revolutions in Primary sector/Agricultural revolutions in India

In India, after independence, there have been several different revolutions in the primary sector (agricultural revolutions) such as Green Revolution, Evergreen Revolution, Yellow Revolution, Blue Revolution, Golden Fiber Revolution, Golden Revolution, Grey Revolution, Pink Revolution, and many others. These revolutions significantly enhanced the production processes in India and increased the agricultural output. Let us learn…

Role of Primary, Secondary, Tertiary, Quaternary and Quinary economic sectors

In the process of classifying economic sectors, economists have divided economic sectors based on the type of work performed and the goods and services produced. These sectors are initially classified as primary, secondary, and tertiary Sectors. The number of sectors grew as new types of work developed, and economists defined new sectors. Currently, there are…

Economic Planning in India: History, Objectives and Achievements

Definition of Economic Planning, History of Economic Planning, Objectives of Economic Planning, Types of Planning, Achievements of Planning, and Financial resources for 5-year plans. Definition: Economic planning is a process to achieve set objectives of economic development of a country in a given period of time. Key economic decisions are made or influenced by the…

Structural Change in Indian Economy

The term “structural change” refers to the major changes in the relative importance of the main sectors of an economy (agriculture, industry, services, and so on) in the course of economic growth. Structural change has often been defined as a process by which the transfer of economic benefits is evidenced in terms of major changes…

Basic Characteristics of Indian Economy

Low per capita real income, high rate of population growth, the cycle of poverty, an agro-based economy, income disparities, slow capital formation, poor infrastructural development, an imperfect market, Lack of skilled manpower, outdated technology, corruption, and a backward society are the basic characteristics of the Indian economy. Per Capita income: India is universally known as…

Indian Economy: Pre-British Period, before and after 2008

Before the advent of British colonial rule, India had the ruled by Mughals, Marathas, Local kings, and Nawabs in different parts of India. The economy was largely rural but was independent and self-sustaining. Agriculture was the main source of livelihood for most people in India. Those days agricultural cultivation was mainly for consumption purposes and…

Evolution of Indian economy

Agriculture was the chief source of livelihood for most people in India, before the advent of British rule.  India was also a hub of various kinds of manufacturing activities, particularly well known for its handicraft industries in the fields of cotton and silk textiles metal and precious stone works, etc. Indian products had a worldwide…