Excel Economics

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•To make an assessment in the material, capital and human resources of India, including technical personal, and augmenting those which are found to be deficient in relation to the nation's requirement.

•To formulate a plan to optimize the use of available resources.

•To define the stages of plans and allocation of resources at different stages.

•To mention the factors that might slow down economic development.

•To mention the conducive environment and conditions to execute the plan effectively.

•To mention the required machinery and tools to implement the plan effectively at each stage.

•To optimize the progress of the plan in each stage and recommend the necessary changes in the policy and measures to execute the plan effectively.

•To recommend things that either need replacement or removal in each stage to successfully implement the plan.

•The surplus income of India was used in setting up the official infrastructure for the British officers.

•During the British period, some of the infrastructure such as road, rail, telegraph, ports, water transport, etc. were developed, but all these were developed not for the benefit of Indians, but, rather to serve the interests of British officials.

•Railway was developed in 1850's
The railway, which was developed in the 1850s broke the barrier of long distance travel and trade. It also fostered the commercialisation of Indian agriculture. But this could hardly be of any help to the farmers.

•The regional disparity was high, as the Madras Presidency (entire South India) was more into manufacturing and services sector and rest of India was in the agricultural sector.

•In India, many industries developed even in the time of crisis. For example, the jute industry in West Bengal and the cotton textile industry in regions of Gujarat and Maharashtra.

•The Industries For Example:
Tata Iron and Steel Company (TISCO) was incorporated in the year 1907.
Tata Iron and Steel Company (TISCO)
By the middle of the 20th century, some other industries such as cement, sugar, paper, etc. were established.

•As all the above discussed industries were concentrated in some specific pockets of the country; therefore, there was no improvement in the condition of the farmers.

•During the colonial period, India became the exporter of jute, cotton, sugar, indigo, wool, etc. and importer of finished products such as cotton and silk fabrics, woollen cloth, machinery, and other items.

•More than 50 percent of India’s trade was directed to Britain; remaining 50 percent were traded in other countries including China, Sri Lanka, and Persia (Iran).

•‘Muslin’ is a type of cotton textile which originated in Bengal, particularly, places in and around Dhaka (previously Dacca), now the capital city of Bangladesh. Hence, it was also popular as ‘Daccai Muslin’.

•Because of its quality, Muslin earned popularity across the world. Sometimes, foreign travelers also used to refer to it as malmal shahi or malmal khas implying that it was worn by, or fit for, the royalty.