The Journey of Indian Economy in the Last 75 Years : Banking, Insurance, Finance, Taxation etc.

On the occasion of the 75th anniversary of India’s Independence ‘Azadi ka Amrit Mahotsav’ and 25th anniversary / ‘Silver Jubilee Year’ of SMG College; the Department of Commerce & Economics has jointly organized the National E-Conference on 25th and 26th May 2022.

India became independent on 15th August 1947. After independence, India adopted a mixed economy. The Indian Government emphasized the development of various sectors through planning. The Growth rate of the Indian Economy at the beginning of the planning period was close to 2 to 3 per cent, increased up to 8 per cent in the Eleventh Five Year Plan. Emphasis was laid on the development of various sectors of the economy through the Five-Year Plans. In the last 75 years, the economy has made great progress in the agriculture, industry and services sector. During the drought period of 1972 our country had to import large quantities of food grains, and now as a result of the green revolution, we are producing large quantities of food grains in our country. The Country which was importing machinery to build large dams is now earning revenue through launching satellites of other countries due to technical progress. Subsequently the per capita income is reached from Rs. 265 to Rs. 150326 on current prices and India is the world’s third largest economy by the Purchasing Power Parity. Despite the progress made in various sectors some problems like poverty, inequality and unemployment have not been completely eliminated. India is completing 75 years of independence. Therefore, it is necessary to discuss the progress made in various sectors of the economy in this long period and the various problems that are being faced by these sectors. Various programs and activities are being organized on the occasion of ‘Azadi ka Amrit Mahotsav’ by the Government and various organizations all over the country. Our college, which provides higher education facilities to students in rural areas, has also completed 25 years of its establishment. To celebrate these two occasions, the Departments of Commerce and Economics of the College jointly organized a National E-Conference on The Journey of Indian Economy after Independence’.