BIJU P M PGT ECONOMICS KV II KOCHI

•
Introduction
• The primary objectives is to familiarize you
with the basic features of the Indian economy.
• The Battle of Plassey fought in 1757 changed
the destiny of our country, then 1857 east
India company transferred power to British
crown – the British colonial rule started and
lasted for about 200 years,
• 1. Economic policy was for- British economic
• interest.
• 2. First estimate on national and per capita
• income was prepared by Dadabhai Naoroji
• in 1876, He estimated national income to
• be Rs.340 crores and per capita income
• Rs.20.
• 3. The first scientific estimate was made by
• Prof. VKRV Rao for the year 1931-32. He
• estimated National income at Rs.1689
• crore and per capita income at Rs.62.
• The agriculture sector continued to experience
stagnation and deterioration during British rule.
State of Indian agriculture sector on the eve of
Independence was as follows :
• 1.Weak productive accumulation: (Insufficient
use of fertilizers & machines)
• 2.Unemployment and Underemployment :
• 3.Low level of production & productivity :
• 4.Sub – division of landholdings :
• Landholding is defined as the area of land
• which a person or family owns.
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