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The Company Rule in India refers to areas in the Indian subcontinent which were under the rule of British East Indian Company.The East Indian Company began its rule over the Indian subcontinent starting with the Battle of Plessey, which ultimately led to the vanquishing of the Bengal Subah and the founding of the Bengal Presidency in 1765, one of the largest subdivisions of British India.
Industrialisation or industrialization is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive reorganisation of an economy for the purpose of manufacturing . [ 3 ]
Some criticize industrial policy based on the concept of government failure.Industrial policy is seen as harmful as governments lack the required information, capabilities, and incentives to successfully determine whether the benefits of promoting certain sectors above others exceeds the costs and in turn implement the policies. [29]
Roy, Tirthankar (Summer 2002), "Economic History and Modern India: Redefining the Link", The Journal of Economic Perspectives, 16 (3): 109– 130, doi: 10.1257/089533002760278749, JSTOR 3216953; Roy, Tirthankar (2006), The Economic History of India 1857–1947, Second Edition, New Delhi: Oxford University Press.
The reform process had significant effects on the Indian economy, leading to an increase in foreign investment and a shift towards a more services-oriented economy. The impact of India's economic liberalisation policies on various sectors and social groups has been a topic of ongoing debate.
The 1956 policy continued to constitute the basic economic policy for a long time. This fact has been confirmed in all the Five-Year Plans of India. According to this resolution the objective of the social and economic policy in India was the establishment of a socialistic pattern of society. It provided more powers to the governmental machinery.
This makes him leave out from his inquiry a number of very important facts, such as the fact that prior to the industrial revolution, all countries in the world had a living standard comparable to today's standard in Africa south of the Sahara, and that since the late 18th century, the global average life expectancy at birth has more than doubled.
The industrial complex is a socioeconomic concept wherein businesses become entwined in social or political systems or institutions, creating or bolstering a profit economy from these systems. Such a complex is said to pursue its own interests regardless of, and often at the expense of, the best interests of society and individuals.