Stagnation in India (1965 To 1980) Was Due To Sharp Reductions in Essay

Stagnation in India (1965 To 1980) Was Due To Sharp Reductions in Public Investments in the Mid-1960s - Essay Example The period of mid-1960s as well as early 1970s has been found to be facing numerous economic problems. The reasons behind such problems stemmed from the fact that since India faced wars with its neighboring countries, huge amount of resources were spend towards defense which reduced the amount of public investment, thus significantly affecting the growth of India. The other reason behind the stagnation was the issues related to foreign exchange situation that forced the country to devalue its currency in the year 1966. The production of the food was insufficient because of the rising demand and therefore it became necessary for India to import the food items from other countries (FAO, â€Å"India†). It was observed that there was decline in the growth rate of public investment which can be identified as one of the significant factors in the decline of the industrial growth rate after the mid-1960s. The paper tries to identify the state of economy of India during the period of 1965-1980. It will review the impacts of low public investment in the mid-1960s on India and the steps taken by the political leaders to combat the problems (Sridharan, E., â€Å"The Political Economy Of Industrial Promotion: Indian, Brazilian, And Korean Electronics In Comparative Perspective 1969-1994†). Indian Economy since Independence and During the Period of Stagnation The main question that arises is related to the performance of India since 1947, the year of its independence. It has been believed that the economy of India was stuck from the times of independence; during that period ‘Hindu rate of growth’ was nearly 3.5% per annum. The period of seventies was commonly referred to as ‘Hindu rate of growth period’. It was revealed that the reason behind the decline in the gross domestic product (GDP) growth during the period of sixties have been due to sharp decline in the growth of agriculture from the middle of sixties. After Green Revolution was introduced, there were important changes in the growth possibility of agriculture. During the period of 1965-1980, the policies were generated as a result of immediate crisis in the economy of India as well as political suitability rather than by economic logic. It has been observed that this period saw disconnectedness in the policies and the procedures of the government. It was found that various strategies adopted by the country for the purpose of the development of the nation failed miserably before the reforms of the nineties. The three components such as too much controls and inward-looking policies as well as substantial and inefficient public sector suppressed the growth during the seventies and to a certain extent in the eighties as well (Virmani, â€Å"India’s Economic Growth: From Socialist Rate of Growth to Bharatiya Rate of Growth†). The decline in the growth rate of industries in the economy of India during the sixties has been characterized as provis ional downward deviation in relation to trend. However, in the present times, the scenarios are being reflected as long-run tendencies leading to stagnation

Case analysis Coursework Example | Topics and Well Written Essays - 500 words - 2

Case analysis - Coursework Example This indicated the desire to serve customer in the best quality service (Mennen 2006). As of 2001, the company had started to realize some profits when its sales exceeded 3.12bn. In 2002, the company made a modest profit of 64 million dollars. In 2003, the company made profits of 814million dollars. This thus indicates that eventually the harvest did come. In 2003, the business vision of the company changed to a place where people could buy anything (Stockport 2004). According to Bezos, e-commerce was the way of the future. This was an accurate estimation as the internet has dominated everyday life. It is a cheaper and efficient means of communicating as well as a trading hub. According to the numbers, the concept of being all things to all people is quite an impressive and profitable business vision. This is because it allows the company to diversify, thus having some forma of safety nets. Some products may not make profits, thus are kept afloat by those that are popular. The concept also means that the company is flexible and a one-stop-shop. According to the vision of the founder, the driving factors of the business are technology, technology, technology (Stockport 2004). This means that the company will focus on technology as its real estate. The company has a lot of potential terms of its capabilities of achieving. At the moment, Amazon.com has only but a while to become the dominant player in the online market. The company has ensured that this will be a reality through some of the features that it has put in place. These features will see to it that the payments are secure, a simple method of ordering as well as a fast delivery system. With this, this company is in the right path to being the Wal-Mart of the