For economic progress of Underdeveloped countries like India, industri

1.	For economic progress of Underdeveloped countries like India, industrialization occupied important place. Only through Industrial development by increasing the rate of production and employment the rate of growth of Indian economy can be increased. Prior to independence, industrial development was very low in India, but after independence, government laid great emphasis on the industrial development of the country. As a result of it, many new industries were established in the country and production capacity and the efficiency of the existing industries were also enchanced. Under the five year plans, the industries development has also been given much importance.(a) State the importance of Industrial development(b) How Industries helps in the Balanced growth of an economy?
Answer» (a) Employment: Through industrialisation, new industries are established. As a result of it, the millions of unemployed persons get work in these industries and it solve the unemployment problem of the country. Self Dependence: Industrial development makes provision for the production of essential goods in the country. As a result there will be less dependence on other countries and our country will become self-sufficient in the production of large number of goods. Increase in National Income: In India, industrialization will bring better and proper utilisation of natural resources. It will increase total production, employment national income and per capita income of the country. Essential for National Defence: Through industrialization many industries like Iron, steel, aeroplane, defense, production etc. can be established which are very important for the security of the country, because these industries manufacture large quantity of war material. Production of Socially Useful Goods: Through industrialization, the production of essential goods like cloth, cycles, goods, paper, oil etc. has become possible. (b) Indian Economy is an unbalanced economy because the bulk of working population and. capital of the country is engaged in agriculture. There is uncertainty in agriculture. Industrialisation will make the economy a balanced one and it will reduce the dependence on agriculture.

For economic progress of Underdeveloped countries like India, industrialization occupied important place. Only through Industrial development by increasing the rate of production and employment the rate of growth of Indian economy can be increased. Prior to independence, industrial development was very low in India, but after independence, government laid great emphasis on the industrial development of the country. As a result of it, many new industries were established in the country and production capacity and the efficiency of the existing industries were also enchanced. Under the five year plans, the industries development has also been given much importance.(a) State the importance of Industrial development(b) How Industries helps in the Balanced growth of an economy?

Answer»

(a)

Employment: Through industrialisation, new industries are established. As a result of it, the millions of unemployed persons get work in these industries and it solve the unemployment problem of the country.
Self Dependence: Industrial development makes provision for the production of essential goods in the country. As a result there will be less dependence on other countries and our country will become self-sufficient in the production of large number of goods.
Increase in National Income: In India, industrialization will bring better and proper utilisation of natural resources. It will increase total production, employment national income and per capita income of the country.
Essential for National Defence: Through industrialization many industries like Iron, steel, aeroplane, defense, production etc. can be established which are very important for the security of the country, because these industries manufacture large quantity of war material.
Production of Socially Useful Goods: Through industrialization, the production of essential goods like cloth, cycles, goods, paper, oil etc. has become possible.

(b) Indian Economy is an unbalanced economy because the bulk of working population and. capital of the country is engaged in agriculture. There is uncertainty in agriculture. Industrialisation will make the economy a balanced one and it will reduce the dependence on agriculture.

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