Independent India chose the path of socialism because that was the dominating thought when British left India. Assess Critically.
Published: February 7, 2016
The British Empire on one hand led to the creation of a capitalist highly rich and wealthy merchant’s class in the society in India. On the other hand the colonial set-up was interested in gaining maximum wealth from the cultivator and worker class thus; deteriorating their living conditions. Thus, after centuries of external subjugation, when India was finally free of foreign rule. The main task a head was to reduce the economic inequality between rich and poor which developed during British era. To overcome the country from quagmire of poverty, unemployment and general backwardness, Nehru impressed by the economic growth of the erstwhile USSR; committed the country with the establishment of a socialist pattern of society where the principal means of production are under social ownership or control. The mode Socialist economy advocates equality as its numero-uno principle. Further, a decision to opt for communist economy would have highly discouraged the class of traders and merchants who were operating ever since the ages of monarchy and with very few established business houses such as the Tata’s and the Birla’s at the time of Independence; capitalism would mean more profit in lesser hands followed by more power. So, the best method available socialist or centrally planned economy which served for welfare to common people.
Model Questions Category: 060 - Economic Growth Development