Page 1 - Lesson Note- Comparitive devt-61

SAI INTERNATIONAL SCHOOL

ECONOMICS

Class-XII

LESSON NOTES
[INDIAN ECONOMIC DEVELOPMENT]

Module-61

Comparative Development of India and its neighbours

Indian and its neighbours – Pakistan and China, have very similar development strategies as an
economy as a whole. A few such similarities in their development strategies are as follows:

 All three countries, India, Pakistan and China began towards their economic development at the
same time. In addition, India and Pakistan attained independence in the year 1947. However,
China was an independent economy in the year 1949.

 India and Pakistan began with similar strategies for creating larger public sector units. And soon
began working on raising public expenditure on social development.
 All the countries began planning their development strategies in a very similar fashion. India
made an announcement of its first 5-year plan in the year 1951. However, Pakistan made its 5-
year plan announcement in the year 1956. China, on the other hand, had made this announcement
in the year 1953.

 Up until the 1980s, all 3 countries had very similar growth rates and per capita incomes.

 Economic reforms took place in all the 3 countries – India, China and Pakistan.
Development Strategies of India
Following are some of the most prominent development strategies of India.

1. A sound trade system was introduced in India to boost the growth.

2. Indian began adopting many poverty alleviation programmes to fight and reduce poverty.
3. India also began adopting measures for the development of areas that are lagging behind in the
overall development of village economy.

4. The aim was soon to generate employment and provide gainful self-employment.
Development Strategies of China
Following are some of the most prominent development strategies of China.