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The narrative discusses the evolving political and economic decisions made by India's leaders in response to the challenges of development post-Independence, highlighting key strategies adopted in the early years. It addresses the tensions between economic growth and social justice and examines planning mechanisms, including the Planning Commission and Five-Year Plans, with a focus on heavy industrialization and agricultural development. The chapter reflects on the contradictions present in policy-making and the differing views on the direction of India's economic development.
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Sections
References
NCERT Study MaterialClass Notes
Memorization
What we have learnt
- Political choices significa...
- There was a consensus that ...
- The Planning Commission pla...
Final Test
Revision Tests
What we have learnt
- Political choices significantly influenced economic development strategies in independent India.
- There was a consensus that development should entail both economic growth and social justice.
- The Planning Commission played a critical role in structuring India's economic policies through Five-Year Plans.
Key Concepts
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Term: Planned Development
Definition: An organized approach by the government to direct economic growth through specific initiatives and strategies, aiming for balanced progress in various sectors.
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Term: Planning Commission
Definition: A government institution established to formulate India's Five-Year Plans and guide the country’s economic development, focusing on long-term goals and resource allocation.
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Term: FiveYear Plans
Definition: Strategic plans devised by the government to allocate resources and set targets for economic growth over a period of five years.
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Term: Socialist Pattern of Society
Definition: A developmental approach aimed at promoting social welfare and reducing economic inequality through government intervention and social ownership.