To understand India's economic trajectory, one must first comprehend the state of the nation at the dawn of independence. Centurial colonial exploitation left India with a deeply scarred, fragile economic foundation. The Low-Growth Trap
While this era built a diversified industrial base and institutions like the IITs, it suffered from structural inefficiencies. Kapila notes that excessive bureaucratic control led to rent-seeking, lack of innovation, and the infamous "Hindu Rate of Growth"—a sluggish average GDP growth of around 3.5% per year. 4. The Agricultural Turnaround: The Green Revolution
The Second Five-Year Plan focused on heavy industries (steel, power, and machines) to build a self-reliant foundation. uma kapila indian economy since independence pdf free
By including papers from various authors, it presents a balanced view of contentious policy issues.
Despite its declining share in national GDP (now under 15-18%), agriculture remains the largest employer, supporting nearly half of the Indian workforce. To understand India's economic trajectory, one must first
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The Second Five-Year Plan (1956) pivoted sharply toward heavy and basic industries. The rationale was simple: to achieve long-term self-reliance, India needed to manufacture its own machines rather than import them. State-Led Development and the License Raj Kapila notes that excessive bureaucratic control led to
Evaluating the optimal balance between government intervention and free-market forces in a developing nation.
The book's origins date back to 1988, when the first edition was designed for students at the University of Delhi. Over the years, it has grown significantly in both size and prestige. The first edition was a modest volume of around 530 pages, but by the latest 36th edition, published in 2025, it had expanded to 1,128 pages, reflecting the increasing complexity of the Indian economy and the depth of analysis it demands. Today, it is widely used across Indian universities for graduate and postgraduate courses and is an indispensable resource for those preparing for the Union Public Service Commission (UPSC) exams.
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and PM GatiShakti , designed to integrate logistics, railways, roadways, and waterways.