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Conduct a discussion on the economic development of independent India. |
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Answer» India followed a mixed economic system comprising the features of socialism and capitalism. As part of economic planning, India started five-year plans. This helped the development of agricultural and industrial sectors as well as eradication of poverty. Education scenario also developed. With the foreign aid, iron and steel industries were set up in different places. Heavy irrigation projects and dams played significant role in India’s economic advancement. Dams contributed water for irrigation and energy production for industry was made easier. With the development of irrigation facilities, agricultural production in the country increased. |
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