Introduction India’s economic planning has undergone a significant transformation over the years. The Planning Commission, which played a central role in India’s economic policy framework for over six decades, was replaced by the National Institution for Transforming India (NITI Aayog) in 2015. This shift marked a strategic move towards a more decentralized, inclusive, and market-driven…
Introduction The economic reforms of 1991 marked a turning point in India’s economic history. Prior to 1991, the Indian economy was characterized by a mixed economic model with a heavy reliance on state control, licensing systems, and protectionist policies. However, due to a severe balance of payments crisis, the government was compelled to introduce a…
Introduction Industrial policy plays a crucial role in shaping the economic trajectory of a nation. The term ‘New Industrial Policy’ generally refers to a shift in the approach of the government towards industrial development, with the aim of making industries more competitive, innovative, and globally integrated. India’s New Industrial Policy, introduced in 1991, marked a…
Introduction The period between 3000 and 300 B.C. witnessed one of the most significant advancements in human civilization—the widespread utilization of iron mineral. The transition from the Bronze Age to the Iron Age marked a fundamental shift in socio-economic structures, influencing agriculture, warfare, trade, and governance. The emergence of iron metallurgy led to technological innovations…
Introduction Globalization refers to the process of increasing interconnectivity and interdependence among countries and regions through the exchange of goods, services, technology, and culture. Over the last few decades, globalization has become a driving force behind many economic, social, and political changes. While it has contributed to global economic growth and poverty reduction, it has…
Small Scale Industries (SSIs) are an integral part of Uttar Pradesh’s economy, contributing significantly to employment generation, regional development, and industrial diversification. These industries, by virtue of their flexibility, innovation, and ability to cater to diverse market demands, have played a key role in the socio-economic landscape of the state. Definition of Small Scale Industries…
Uttar Pradesh (UP), India’s most populous state, with over 220 million residents, has long faced challenges related to unemployment, poverty, and economic development. However, in recent years, the state has made concerted efforts to transform itself into a more investment-friendly environment to boost its economy. A pivotal part of these efforts has been the state’s…
Introduction Uttar Pradesh (UP) is one of India’s most industrially significant states, contributing significantly to the country’s economy. Due to its vast population, strategic location, and diverse resources, UP has emerged as a hub for various industries, including agriculture, textiles, manufacturing, information technology, and tourism. The state government has launched several initiatives to boost industrialization,…
Introduction The Industrial Revolution was one of the most significant events in human history, fundamentally altering the structure of societies across the world. It began in the late 18th century in Britain and gradually spread to other parts of Europe, North America, and eventually the rest of the world. While commonly viewed as a period…
Introduction Globalization and liberalization have significantly transformed the Indian economy, driving economic growth, enhancing trade, and improving technological capabilities. India’s economic liberalization, which began in 1991, marked a shift from a protectionist economy to an open and market-driven system. These reforms integrated India into the global economy, leading to increased foreign trade, capital inflows, and…