Business Environment, 1st Edition by Pearson

Chapter 2: National Income | 27 |

lethargy of Indians did not provide any scope for industrialization.

Hence, there is low production and, thus, low national income.

Social Causes

The old and outdated customs, traditions, institutions and supersti-

tious beliefs were no less responsible for the slow growth of Indian

economy. The caste system, for example, has had an adverse infl u-

ence on the economic progress of the country. The fatalistic and

religious fanaticism of the people, the idea that is ingrained in the

minds of the poor that whatever they do, they would not come

out of the rut, because the heavens have decreed them so, their

mighty satisfaction with the nearly little they have, lack of thrift

and saving, are all largely responsible ...