DHARMAPUTRA GETS CRAZY

The formation of  the planning commission in 1950 and the death in office of J.L Nehru in 1964 marks the Nehru era, which served as the base for growth that transformed a stagnant colonial enclave. Upon analysing data, we find formidable evidence not only of resurgent growth but also of a lasting transformation of a stagnant colonial enclave into an economy capable of sustained growth. However, in the public sphere, there is an unusual degree of interest in the Nehru era. Much of this is negative which is buoyed by the extraordinary current rates of growth of the Indian economy, so much so that Das and Srinivasan termed it as “wasted past”. Moreover, a positive charge for support comes from a more academic direction. The year of 1950  marks a watershed as far as economic growth is concerned. The post-colonial economic policy aimed to make a break from the immediate past. Looking at the relationship between public policy and economic growth in the Nehru era serves t...

It is very much clear that a general model of colonialism and underdevelopment cannot explain the variations in India’s growth trend during the colonial period from 1863 to 1947. However, there are three structural features that define the entire colonial period. Structural features which include the importance of natural resources and labour to economics growth and welfare . Land intensive agriculture, Labour -intensive handicrafts, and modern industry in natural resources, were the main livelihoods throughout this period and beyond. Global features which saw a more open Indian economy and the fact that India took part in the first globalisation of the 19th century, which saw a rapid integration of world economy in terms of commodity trade, capital flows, and labour migration. Due to the opening of Suez canal in 1867 India also witnessed the revolution in transport and communication, Railways and telegraph which were introduced in this phase. There were Colonial fea...