Import Substitution |Growth Strategy b/w 1950- 90 |Good & Bad Effects| Chapter 3 |Trade | Class 12th

In the last videos we covered, the policy reforms of agriculture and industry where we covered all the the Green Revolution, Land reforms and Technical Reforms. In Industry we covered the most important topic, Industrial Policy Resolution, how the government did a three fold classification of the industries and gave some benefits of taxation to the industries establishing in the backward areas to achieve the regional equality. This was all done to build an infrastructural base of the large industrial houses. Then we studied about the small scale industries , how they proved to bring equity and equality with their locational flexibility.
Now in the video we will focus more about the policies of the trade. We started with studying Import Substitution also called the Inward Looking Strategy. We focused on saving some foreign reserves using this strategy. Then we discussed the Growth Strategy used in the entire 1950-90. We focused on its features, good effects of the policy, bad effects. And after analyzing everything, we came to conclusion why the government came up with new policy i.e. the New Economic Policy , 1991.
The links of last 3 parts :
Part 1 : • Agriculture, Industry ...
Part 2 : • Green Revolution| Gain...
Part 3 : • Agriculture, Industry ...
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