History Notes Chapter 4 Economic Development Class 9 Maharashtra Board

Notes For All Chapters – History Class 9
1. Introduction to Economic Development

• After independence in 1947, India needed a strong economy.
• The government made five-year plans to develop different sectors.
• India adopted a mixed economy, meaning both government and private businesses worked together.

2. Five-Year Plans

The Indian government created five-year plans to improve industries, agriculture, and infrastructure.

Five-Year Plans and Their Focus Areas

3. Mixed Economy in India

• India adopted a mixed economy, where both the government and private industries worked together.
• The public sector (government-controlled industries) focused on essential services like railways, banking, and electricity.
• The private sector (owned by individuals) focused on businesses like textiles, technology, and consumer goods.

4. Nationalization of Banks (1969)

• On 19th July 1969, the government nationalized 14 major banks.
• Reason: Private banks only helped rich people and big businesses.
• Impact:
  • Farmers and small businesses got easy loans.
  • Banking services reached rural areas.
  • The economy became more stable.

5. 20-Point Programme (1975)

• Launched by Indira Gandhi to reduce poverty and improve living conditions.
• Focus areas:
  1. Land reforms for farmers
  2. More jobs for the poor
  3. Education for all
  4. Better healthcare
  5. Rural development

6. Mill Workers’ Strike (1982)

• Leader: Dr. Datta Samant led a strike in Mumbai’s textile mills.
• Reason: Workers wanted better salaries and working conditions.
• Impact: The strike was unsuccessful, and many mills shut down, leaving workers unemployed.

7. Role of Public and Private Sectors

• Public Sector: Government industries provide essential services (railways, electricity, banks).
• Private Sector: Businesses owned by individuals focus on industries and technology.
• Together, they help in economic growth.

8. Industrial Growth in India

• First industries started during British rule, but India needed more factories after independence.
• The government focused on steel plants, hydroelectric projects, fertilizers, and transport.

Major industrial projects:

• • Bhilai, Rourkela, and Durgapur steel plants (2nd Five-Year Plan)
  • Bhakra-Nangal Dam (for irrigation and electricity)

9. Importance of Economic Reforms (1991)

• The Indian government introduced economic reforms in 1991.

Reasons:

• • High debts and economic slowdown
  • Need for foreign investments and competition

Changes:

• • Many industries became private (privatization).
  • Foreign companies started investing in India.
  • More jobs and better technology.

10. Impact of Economic Development

• Improved agriculture with modern technology.
• Growth in industries and businesses.
• More employment opportunities for people.
• Better transport and communication systems.