: Credit and Indian Economic Development, 1920-1960 Nath, Maanik. creator Maanik Nath text New Delhi : Cambridge University Press , 2023 monographic eng

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viii,239p. : 24cm. The great majority of the population in colonial and postcolonial India lived in the countryside and were poor. Many were unable to find gainful work outside agriculture and remained dependent on a livelihood that provided only subsistence, and a precarious one. Seeking the roots of persistent poverty, Maanik Nath finds that the pervasive high cost and shortage of capital affected the peasant's ability to invest in land. The productivity of land, as a result, remained small and changed little. Bridging economic theory and historical evidence, Capital Shortage shows that climate, law, policy design, and interactions between these factors, perpetuated a stubborn cycle of low investment and widespread deprivation over several decades. These findings can be tested against credit and development in preceding and succeeding periods as well as positioned in comparative global context. / Maanik Nath. Agriculture and remained dependent Capital affected Colonial and postcolonial India Indian Economic Development 332.709 NAT 9781009359078 : Technical Bureau India Pvt. Ltd. : E/261, Shastri Nagar, Delhi 240306 20240306101317.0