Indian Economy Before and After Independence: Introduction

Introduction

This chapter discusses the major events that took place in India before and after Independence. India was a colony for long. Colonialism refers to a system of political and social relations between two countries, of which one is the ruler and the other is its colony. The ruling country not only has political control over the colony, but it also determines the economic policies of the subjugated country. Thus, the people living in a colony cannot take independent decisions in respect of utilisation of the country’s resources and important economic activities. India had the bitter experience of colonialism.