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Updated August 14th, 2022 at 16:45 IST

Independence Day 2022: How India has alleviated poverty in 75 yrs since attaining freedom

This Independence Day, let us take a look at the biggest factors which transformed India from being one of the poorest countries to a $3 trillion economy.

Reported by: Harsh Vardhan
Independence Day 2022
Image: PTI | Image:self
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A look back at 75 years of India's journey reveals that the country has come a long way in terms of health, literacy, sports, but most importantly, the economy. With around $45 trillion sucked from India by the British, India was reduced to a country stricken with poverty, hunger and malnutrition but managed to churn out one of the biggest comeback stories in history. This Independence Day, let us take a look at India's journey from being one of the poorest nations to becoming the sixth largest economy. 

Contributors to India's rise

When India got Independence in 1947, its GDP stood at Rs 2.7 lakh crore and the per capita income of our country was a mere Rs 265. Fast forward 75 years, the GDP has reached Rs 135.13 lakh crore (over $3 trillion) and the per capita income jumped to Rs 1,28,829 by 2020-21. Many factors such as the Green, Blue and White revolution were the major factors that boosted India's economy and the process of alleviating poverty began. 

As India is a country with agriculture as its backbone, the Green revolution introduced in the 1960s prompted India to adopt new technologies for farming and increase the production value manifolds. This also reduced our dependency on the US during the deadly famines for grain imports and ensured food security in the country.

Similar was the idea behind the White revolution which began in the early 1970s and soon transformed into the world's largest dairy development program. It was this movement that made India the biggest producer of milk and boosted the income of the farmers and the economy. India's contribution to the global milk market stands at 22%, thanks to Dr. Varghese Kurian, also known as the father of the White revolution.

Then came the Blue revolution in 1985 which also had the aim of ensuring food security in the country and increasing the income of fishermen through strategic utilisation of water resources in a sustainable way. The 1991 economic liberalisation and the opening of gates to foreign companies also had a major share in improving the country's condition.

Schemes benefitting the poor

Several central government schemes such as the Ujjawala yojana, providing cooking gas, and the Gareeb Kalyana yojana (Rs 1.70 Lakh Crore relief package) have also proved to be a major contributor to bringing India where it is today. According to the government, over 44.23 crore bank accounts held Rs 1.50 lakh crore in the country as of December 2021 under the Jan Dhan Yojana, a reform seeking the financial inclusivity of Indians. Besides, the PM Awaas Yojana has seen the completion of over 6 million houses as of now in a bid to provide affordable housing to the people.

Other basic necessities such as the supply of drinking water in rural areas of the country were also fulfilled under the Har Ghar Nal Se Jal Yojana. Launched in 2019, this scheme has provided potable tap water to every house in the country by 2024 including 192 million rural households.

In addition to this, education remains the most underrated factor in the growth of India's economy and the reduction in poverty levels. At the time of Independence, the literacy rate in India was around 17% but it grew to 73% by 2011 as per the previous national census. The scheme of Sarva Sikhsha Abhiyan introduced in 2001 during the Atal Bihari Vajpayee government aimed at providing free education to children and raising the literacy rate.

In the near future, India is projected to see continuous growth in its economy and by 2031, it is expected to become the third largest economy from its current sixth position. Besides, at a time when several countries are facing record-high inflation, India is expected to steer through this problem without too much damage to its economy with a 7.5% growth rate, as per the World Bank.

From being held back by the British to finding its own feet and emerging as a powerful nation, India has come a long way since attaining Independence. The way the nation has grown in terms of economy, global supremacy and several other factors is indeed an example for several other developing nations.

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Published August 14th, 2022 at 16:44 IST

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