Answer:
The end of the British Raj in India in 1947 brought many economic changes to the country. Here are some of the most important economical factors of life in India after the British Raj:
1) Partition and its impact: The partition of India in 1947 led to the division of the economy. India lost access to many natural resources and markets that were previously available, causing a significant decline in trade and commerce.
2) Agricultural reforms: After gaining independence, the Indian government implemented several agricultural reforms to increase production and promote self-sufficiency. This included the introduction of new seeds, irrigation systems, and fertilizers.
3) Industrialization: India embarked on a process of industrialization after independence. The government set up public sector enterprises in core sectors like steel, coal, power, and heavy machinery, and promoted private sector investment in other industries.
4) Economic liberalization: After the 1980s, India shifted towards a more liberalized economy, easing restrictions on foreign investment, trade, and competition. This helped to spur growth in many sectors, particularly in information technology and services.
5) Economic disparities: Despite significant economic growth, India still struggles with economic disparities, with a large portion of the population living in poverty. The government has implemented various social welfare programs to address this issue, including schemes such as the National Rural Employment Guarantee Act, which guarantees a minimum of 100 days of work to rural households.
Overall, life after the British Raj in India has been marked by significant economic changes and challenges. While the country has made progress in some areas, other issues such as poverty and inequality remain major concerns.