Economic Growth in India 1950-1990
Transcript of Economic Growth in India 1950-1990
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ECONOMIC ECONOMIC GROWTH IN GROWTH IN INDIA 1950-INDIA 1950-
19901990
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Distinguishing Three Phases of Growth
How do we divide these 40years into a small number of sub-periods (phases) for orderly discussion? Table 1Chart (a few slides later)
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GDP GROWTH ANUALLY
Observation:Observation:Inconsistent Inconsistent
growthgrowth
TABLE -1
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How to Divide into Sub-How to Divide into Sub-periodsperiods
According to:According to: Five Year PlansFive Year Plans DecadesDecades The Global Economic EnvironmentThe Global Economic Environment Differences in the Growth Differences in the Growth
PerformancePerformance
??
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Our Preferred Division
According to the sharpness of differences in the growth rates
We distinguish three phases.
Phase I: 1950-65
Phase II: 1965-81
Phase III: 1981-88
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Figure 2:Average growth rate
0
1
2
3
4
5
Phase
1
Phase
2
Phase
3
GROWTH RATE
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Sectoral GrowthSectoral Growth
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Figure 2: Growth Rates of Sectoral GDP
0%
20%
40%
60%
80%
100%
Phase
1
Phase
2
Phase
3
SERVICE
INDUSTRIAL
AGRICULTURAL
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5 YEAR PLAN PERFORMANCE
0
1
2
3
4
5
6
1st PLAN 2nd PLAN 3rd PLAN 4th PLAN 5th PLAN 6th PLAN 7th PLAN
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Table 2: The Composition of the GDP
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1950-511950-51
52%14%
8%
26%AGRICULTURE &ALLIED
INDUSTRY
MANUFACTURING
SERVICES
1964-65
43%
19%
11%
27%AGRICULTURE &ALLIED
INDUSTRY
MANUFACTURING
SERVICES
1980-81
35%
21%
12%
32%
AGRICULTURE &ALLIED
INDUSTRY
MANUFACTURING
SERVICES
30%
16%
32%
22%
AGRICULTURE &ALLIED
INDUSTRY
MANUFACTURING
SERVICES
1987-90
THE THE COMPOSITION OF COMPOSITION OF
THE GDPTHE GDP
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AS OTHER SECTORS DEVELOPING AGRICULTURAL & ALLIED ARE LACKING BEHIND
SERVICE SECTOR, MANUFACTURING & INDUSTRIES ARE GROWING AT TREMENDOUS PACE
ALTHOUGH INDIAN ECONOMY GROWING BUT IT HAS PEAKS AND VALLEYS UNDER ITS PROGRESS
ECONOMY ALTHOUGH DEVELOPING BUT NOT BALANCING ITS COMPOSITIONS
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