Entrepreneurship is the Key to Success

By: Shukla, Sunil
Material type: TextTextPublisher: Ahmedabad Sahitya Sadhana Trust 2020Description: 336-340pSubject(s): Entrepreneurship | Atmanirbhar Bharat | Global Pandemic | Micro, Small and Medium Enterprises (MSMEs) | Entrepreneurship in India | Rural Entrepreneurship | Entrepreneurial Superpower Online resources: Click here to access online Summary: Starting off as a mixed economy with combined benefits of capitalist and the socialist economic systems, India has witnessed three critical development stages since independence. The period from 1950-75 marked an era of tight regulations and controls, the time from 1976-91 was characterised by initial liberalization and that after 1991 that saw implementation of liberalization in a methodical framework. The last phase was a result of a crisis due to the depletion of foreign reserves and huge debt thereafter. The economic reforms have enabled the country to attain a credible place in world market registering itself as one of the fastest growing economies in 2016.
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Starting off as a mixed economy with combined benefits of capitalist and the socialist economic systems, India has witnessed three critical development stages since independence. The period from 1950-75 marked an era of tight regulations and controls, the time from 1976-91 was characterised by initial liberalization and that after 1991 that saw implementation of liberalization in a methodical framework. The last phase was a result of a crisis due to the depletion of foreign reserves and huge debt thereafter. The economic reforms have enabled the country to attain a credible place in world market registering itself as one of the fastest growing economies in 2016.

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