|When was Independence gained?||(India got independence from Britishers in 1947)||(Pakistan got independent from Britishers in 1947)||(People's Republic of China was established in 1949)|
|When were 5 Years Plans Introduced?||1951||1956||1953|
|Economic policy Adopted After Independence||Creating Huge Public Sector||Creating Huge Public Sector||All critical Sectors of Economy came under Govt Control|
|(Govt Set up Huge Large Capital intensive Industries while Private Sector developed small Industries and factories)||(Govt Set up Huge Large Capital intensive Industries while Private Sector developed small Industries and factories)||Govt owned all the land and all the factories and land|
|Increased Public expenditure on Social Development like New Schools, Colleges, Hospitals||Increased Public expenditure on Social Development like New Schools, Colleges, Hospitals||GLF Campaign(Great Leap Forward Campaign) was launched in 1958 whose aim was to industrialize the economy on a large scale|
|Agriculture||Agriculture was with Private Sector||Agriculture was with Private Sector||Govt Owned the land, communes were set up in villages where all the people collectively cultivated land|
|Small Farms Owned by Individual Farmers||Small Farms Owned by Individual Farmers||Only 26000 Large communes in whole of China|
What similar developmental strategies have India and Pakistan followed for their respective developmental paths?View Answer
The similar development strategies followed by India and Pakistan for their developmental paths:
- Both India and Pakistan followed the mixed economic structure where both the Private and Public sector contributed
- Public sector had a major roles in both the countries as huge investment was made towards social development
- India and Pakistan both got independence at the same time, India launched its 5 year plan in 1951 while Pakistan launched in 1956.
- Till 1980s, both the countries had similar growth rates and per capita incomes
What were the development strategies followed by China for their developmental path?View Answer
The development strategies followed by China for their developmental path were:
- It adopted the social economic structure where all the major sectors were under the control of government
- The five year plans were launched in 1953.
In 1958, government started the Great Leap Forward Campaign to industrialize the economy on a large scale
Govt Owned the land, communes were set up in villages where all the people collectively cultivated land
There were about 26000 Large communes in whole of China
- In 1978, reforms were launched in China in agriculture, investment and industrial sector.