Question

What was the India's most crucial economic challenges at the time of independence.

Options

• Low Level of Agricultural Productivity

• Infant Industrial Sector

• Lack in Infrastructure

• All of the above

Answer 1

All of the above

Explanation:

The Indian economy is confronted with the following economic challenges:

1. Low Level of Agricultural Productivity:
   During colonial authority, the British exploited the Indian agriculture industry for their own gain. As a result, the Indian agricultural industry has seen stagnation, low productivity, a lack of investment, and harsh conditions for landless farmers and peasants. As a result, India's urgent goal was to enhance its agricultural sector and productivity. Abolition of the Zamindari system, land reforms, lowering land inequality, and peasant upliftment was among the immediate measures required at the time of independence.
2. Infant Industrial Sector:
   During colonial control, India was unable to establish a sound industrial basis. India needs a lot of money, investments, infrastructure, people resources, technical know-how, and cutting-edge technology to build its industrial sector. Additionally, India's native industry struggled to survive due to severe competition from British businesses. India's main concern in growing its industrial sector was to create both small and large-scale enterprises at the same time. Furthermore, one of India's major economic difficulties has been to enhance the industrial sector's contribution to the country's GDP.
3. Lack of Infrastructure:
   Although there was a major improvement in the country's infrastructure development, it was insufficient to boost the agricultural and industrial sectors' performance. There was also a need to upgrade and modernize the existing infrastructure in order to improve its efficiency and efficacy.