Why has the economic environment of business in India been steadily changing? |
Due to international influences Due to technological advancements Mainly due to government policies Due to cultural shifts |
Mainly due to government policies |
The economic environment of business in India has been steadily changing mainly due to the government policies. At the time of Independence the Indian economy was mainly agricultural and rural in character and about 70% of the working population was employed in agriculture and about 85% of the population was living in the villages. Production was carried out using irrational, low productivity technology. Communicable diseases were widespread, mortality rates were high. In order to solve economic problems of our country, the government took several steps including control by the State of certain industries, central planning and reduced importance of the private sector. |