Hunain Ahmed
Stories (1/0)
INDIA VS PAKISTAN ECONOMY
India and Pakistan gained independence in 1947 and inherited an almost similar economic legacy of underinvestment and neglect, and ranked among the world’s poorest nations. Pakistan was not given its full share of wealth and resources, therefore, had relatively more problems. Out of 921 industrial units in undivided India, Pakistan received only 34. Soon after independence, Pakistan was struggling with economic challenges. On January 5, 1948, LIFE magazine reported that Pakistan’s economy was on the verge of collapse. Contrary to the above assessments, during the first four decades of its independence; Pakistan’s economy witnessed an average growth rate of 6 percent, while India lagged behind with only a 4 percent average growth rate.
By Hunain Ahmed about a year ago in Journal