The interesting fact about Nehru…..
·“The children of today will make the India of tomorrow. The way we bring them up will determine the future of the country,” Nehru had once said.
·Jawaharlal Nehru was particularly committed to children's education
· On August 15, 1947, Jawaharlal Nehru became the first Prime Minister of India and set about the task of breaking free from the colonial supply chain.
· Without this rupture, India would not be economically independent and political independence would only be a sham.
·India's agrarian, feudal economy embedded in Britain's global supply chains fulfilled its role as a colony.
· Within the country, the supply chains meant to support the British effort in the Second World War existed.
·India's independence from British colonial rule asked by breaking free from the legacy of colonial supply chains.
·This meant setting up new links in the supply chains to fight poverty and inequality.
· It also meant creating new facilities to register high economic growth - a task we are still struggling with today.
·In 1931, Congress passed a resolution that the State should own or control key industries and services, mineral resources, railways, waterways, shipping, and other means of public transport.
·Just two years before independence, in 1945, the Bombay Plan recommended a public sector-led growth of basic, capital goods and heavy industries.
·Around 70% of the population was what we now call the Below Poverty Line (BPL), both agriculture and industry were in ruins and expectations from the populace were huge.
·India's growth under British rule was almost four times faster than that under post-independence British rule.
·The industry grew at a CAGR of 7.1%, while agriculture grew at just over 3%. No other country had grown so fast in the 19th and 20th centuries, except Japan.
· Nehru's policy of import substitution industrialization of consumer goods, capital goods, and intermediate goods reduced dependence on imported equipment.
· Manufacturing diversified from cotton, sugar, and jute textiles to a wider range of goods.
·India met hardly 10% of its demand for equipment through imports in the mid-1970s.
·India persisted with an out-of-date economic model that bred inefficiency, though the world had changed.
·India could become self-sufficient in food grains, not until the late 1970s, and have surplus buffer stocks until the mid-1980s.
·Green revolution that started in the 1960s with the fortuitous adaptation of Mexican dwarf wheat could increase agricultural output only because of essential infrastructure created during Nehru's time.
· Most importantly, India saw rapid economic growth.