What are the causes of underdevelopment of Indian economy ?
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| Indian economy |
India is a vast country and India is known as golden bird.But Indian economy is not developed as much as it is had to. Indian economy is counted as undeveloped economy.
Nowadays Indian economy is started growing but there are some important features which identified Indian economy as an under developed economy in the world.Important causes of underdevelopment of Indian economy are discuss below
Causes are given below :-
* British administration
India was ruled by the British for long periods. British had ruled India for 200 years. British did not thinks about the Indian economy ,they only think about their development.There was lack of development of Industries during British administration.
* Colonial trade system
This is the another important cause of Underdevelopment of Indian economy.During British administration British transported the capital,row materials to their country and they developed their economy according to their wish.they started the colonial trade system in India to transport the row materials and they transported the row materials to their country for development
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| Indian economy |
*shortage of capital
This is the most important cause of underdevelopment of Indian economy.There is lack of capital in India.India is a growing country and India is not developed as much as it is had to. low capital cause for individual which show that low income of the individual
*lack of Industries
India is a developing country.It is not a developed country which identify the lack of Industries in India.India was ruled by the British for 200 years and they had not developed any Industries in India.Another important thing is that British started colonial trade system in India to transport row materials to their country and to develop their Industries
*Social factors:-
Generally ,more peoples of India are illiterate and they are unemployment and underdeveloped.they also love joint family and they produce more child.Main important thing about Indian society is that they believe in casteism ,and Indian society are generally male dominate society.This is also cause of under development of Indian economy.
*No equality:-
This is another cause of under development of Indian economy because there is no equality among Indian people,They are divided by income,status,caste and illiteracy.Indian people believe in casteism and India is full with different types of caste people.Indian people generally believe on their casteism ,not other caste .This is also cause of inequality