Economic History Of Pakistan
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Economic History Of Pakistan
Since independence in 1947, the economy of Pakistan has emerged as a semi-industrialized one, the on textiles, agriculture, and food production, though recent years have seen a push towards technological diversification. Pakistan's GDP growth has been gradually on the rise since 2012 and the country has made significant improvements in its provision of energy and security. However, decades of corruption and internal political conflict have usually led to low levels of foreign investment and underdevelopment. Historically, the land forming modern-day Pakistan was home to the ancient Indus Valley civilization from 2800 BC to 1800 BC, and evidence suggests that its inhabitants were skilled traders. Although the subcontinent enjoyed economic prosperity during the Mughal era, growth steadily declined during the British colonial period. Since independence, economic growth has meant an increase in average income of about 150 percent from 1950 to 1996, But Pakistan like many other devel ...
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Indian Independence Act 1947
The Indian Independence Act 1947 (1947, Chapter 30, 10 and 11; Geo 6) is an Act of Parliament, Act of the Parliament of the United Kingdom that partition of India, partitioned British India into the two new independent dominions of Dominion of India, India and Dominion of Pakistan, Pakistan. The Act received Royal Assent on 18 July 1947 and thus modern-day India and Pakistan, comprising west (modern day Pakistan) and east (modern day Bangladesh) regions, came into being on 15 August. The legislature representatives of the Indian National Congress, the All-India Muslim League, Muslim League, and the Sikhs, Sikh community came to an agreement with Louis Mountbatten, 1st Earl Mountbatten of Burma, Lord Mountbatten on what has come to be known as the ''3 June Plan'' or ''Mountbatten Plan''. This plan was the last plan for independence. Prelude Attlee's announcement Clement Attlee, the Prime Minister of the United Kingdom, announced on 20 February 1947 that: #The British Government w ...
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Ceremonial Vessel LACMA AC1997
A ceremony (, ) is a unified ritualistic event with a purpose, usually consisting of a number of artistic components, performed on a special occasion. The word may be of Etruscan origin, via the Latin '' caerimonia''. Church and civil (secular) ceremonies According to Dally Messenger and Alain de Botton, in most Western countries the values and ideals articulated in both church and civil ceremonies are generally similar. The difference is in what Messenger calls the "supernatural infrastructure" or de Botton the "implausible supernatural element".Messenger, Dally; ''Murphy's Law and the Pursuit of Happiness: a History of the Civil Celebrant Movement'', Spectrum Publications, Melbourne (Australia), 2012 Most churches and religions claim some extra advantage conferred by the deity e.g. Roman Catholics believe that through the words of consecration in the mass ceremony, God himself becomes actually present on the altar. Both church and civil ceremonies share the powerful psycho ...
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Akbar
Abu'l-Fath Jalal-ud-din Muhammad Akbar (25 October 1542 – 27 October 1605), popularly known as Akbar the Great ( fa, ), and also as Akbar I (), was the third Mughal emperor, who reigned from 1556 to 1605. Akbar succeeded his father, Humayun, under a regent, Bairam Khan, who helped the young emperor expand and consolidate Mughal domains in India. A strong personality and a successful general, Akbar gradually enlarged the Mughal Empire to include much of the Indian subcontinent. His power and influence, however, extended over the entire subcontinent because of Mughal military, political, cultural, and economic dominance. To unify the vast Mughal state, Akbar established a centralised system of administration throughout his empire and adopted a policy of conciliating conquered rulers through marriage and diplomacy. To preserve peace and order in a religiously and culturally diverse empire, he adopted policies that won him the support of his non-Muslim subjects. Eschewing t ...
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Mughal Empire
The Mughal Empire was an early-modern empire that controlled much of South Asia between the 16th and 19th centuries. Quote: "Although the first two Timurid emperors and many of their noblemen were recent migrants to the subcontinent, the dynasty and the empire itself became indisputably Indian. The interests and futures of all concerned were in India, not in ancestral homelands in the Middle East or Central Asia. Furthermore, the Mughal empire emerged from the Indian historical experience. It was the end product of a millennium of Muslim conquest, colonization, and state-building in the Indian subcontinent." For some two hundred years, the empire stretched from the outer fringes of the Indus river basin in the west, northern Afghanistan in the northwest, and Kashmir in the north, to the highlands of present-day Assam and Bangladesh in the east, and the uplands of the Deccan Plateau in South India. Quote: "The realm so defined and governed was a vast territory of some , rang ...
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Silver Rupee Madras Presidency
Silver is a chemical element with the symbol Ag (from the Latin ', derived from the Proto-Indo-European ''h₂erǵ'': "shiny" or "white") and atomic number 47. A soft, white, lustrous transition metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. The metal is found in the Earth's crust in the pure, free elemental form ("native silver"), as an alloy with gold and other metals, and in minerals such as argentite and chlorargyrite. Most silver is produced as a byproduct of copper, gold, lead, and zinc refining. Silver has long been valued as a precious metal. Silver metal is used in many bullion coins, sometimes alongside gold: while it is more abundant than gold, it is much less abundant as a native metal. Its purity is typically measured on a per-mille basis; a 94%-pure alloy is described as "0.940 fine". As one of the seven metals of antiquity, silver has had an enduring role in most human cultures. Other than in curr ...
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Gross Domestic Product
Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often revised before being considered a reliable indicator. List of countries by GDP (nominal) per capita, GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation, inflation rates of the countries; therefore, using a basis of List of countries by GDP (PPP) per capita, GDP per capita at purchasing power parity (PPP) may be more useful when comparing standard of living, living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. The ratio of GDP to the total population of the region is the GDP per capita, p ...
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Angus Maddison
Angus Maddison (6 December 1926 – 24 April 2010) was a distinguished British economist specialising in quantitative macro economic history, including the measurement and analysis of economic growth and development. Maddison lectured at several universities over the course of his career, including the University of St. Andrews in Scotland and Harvard University. In 1978, Maddison was appointed Historical Professor in the Faculty of Economics at the University of Groningen (RUG). He retired in 1996 and became Emeritus Professor. Maddison is particularly known for documenting economic performance over long periods of time and across major countries in every continent of the world. Early life and OEEC/OECD Born in Newcastle-on-Tyne, England, Maddison was educated at Darlington Grammar School and subsequently attended Selwyn College, Cambridge, as an undergraduate. After attending McGill University and Johns Hopkins University as a graduate student, he decided not to pursue a P ...
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Kushan Empire
The Kushan Empire ( grc, Βασιλεία Κοσσανῶν; xbc, Κυϸανο, ; sa, कुषाण वंश; Brahmi: , '; BHS: ; xpr, 𐭊𐭅𐭔𐭍 𐭇𐭔𐭕𐭓, ; zh, 貴霜 ) was a syncretic empire, formed by the Yuezhi, in the Bactrian territories in the early 1st century. It spread to encompass much of modern-day territory of, Afghanistan, Pakistan, Uzbekistan, and northern India, at least as far as Saketa and Sarnath near Varanasi (Benares), where inscriptions have been found dating to the era of the Kushan Emperor Kanishka the Great. The Kushans were most probably one of five branches of the Yuezhi confederation, an Indo-European nomadic people of possible Tocharian origin, who migrated from northwestern China (Xinjiang and Gansu) and settled in ancient Bactria. The founder of the dynasty, Kujula Kadphises, followed Greek religious ideas and iconography after the Greco-Bactrian tradition, and being a follower of Shaivism. The Kushans in general were ...
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Indo-Greek Kingdom
The Indo-Greek Kingdom, or Graeco-Indian Kingdom, also known historically as the Yavana Kingdom (Yavanarajya), was a Hellenistic-era Greek kingdom covering various parts of Afghanistan and the northwestern regions of the Indian subcontinent (parts of modern-day Pakistan and northwestern India). This kingdom was in existence from ca. 200 BC to ca. 1 BC. During its existence the kingdom was ruled over by 30 successive kings. Menander I, being the most well known amongst the Indo-Greek kings, is often referred to simply as ''“Menander,”'' despite the fact that there was indeed another Indo-Greek King known as Menander II. Menander I's capital was at Sagala in the Punjab (present-day Sialkot). The kingdom was founded when the Graeco-Bactrian king Demetrius (and later Eucratides) invaded India from Bactria in 200 BC. The Greeks in the Indian Subcontinent were eventually divided from the Graeco-Bactrians centered on Bactria (now the border between Afghanistan and Uzbekistan) ...
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Maurya Empire
The Maurya Empire, or the Mauryan Empire, was a geographically extensive Iron Age historical power in the Indian subcontinent based in Magadha, having been founded by Chandragupta Maurya in 322 BCE, and existing in loose-knit fashion until 185 BCE. Quote: "Magadha power came to extend over the main cities and communication routes of the Ganges basin. Then, under Chandragupta Maurya (c.321–297 bce), and subsequently Ashoka his grandson, Pataliputra became the centre of the loose-knit Mauryan 'Empire' which during Ashoka's reign (c.268–232 bce) briefly had a presence throughout the main urban centres and arteries of the subcontinent, except for the extreme south." The Maurya Empire was centralized by the conquest of the Indo-Gangetic Plain, and its capital city was located at Pataliputra (modern Patna). Outside this imperial center, the empire's geographical extent was dependent on the loyalty of military commanders who controlled the armed cities sprinkling it. During Ash ...
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Hindush
Hindush (Old Persian cuneiform: 𐏃𐎡𐎯𐎢𐏁, , transcribed as since the nasal "n" before consonants was omitted in the Old Persian script, and simplified as ) was a province of the Achaemenid Empire in lower Indus Valley established after the Achaemenid conquest circa 500 BC. According to the ancient Greek historian Herodotus, it was the "easternmost province" of the empire. It is believed to have continued as a province until the invasion of the empire by Alexander the Great circa 326 BC. Name Hindush was written in Achaemenid inscriptions as (Old Persian cuneiform: , ). It is also transliterated as since the nasal "n" before consonants was omitted in the Old Persian script, and simplified as ).Some sounds are omitted in the writing of Old Persian, and are shown with a raised letteOld Persian p.164https://archive.org/stream/OldPersian#page/n23/mode/2up/ Old Persian p.13]. In particular Old Persian nasals such as "n" were omitted in writing before consonantOld P ...
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Achaemenid Empire
The Achaemenid Empire or Achaemenian Empire (; peo, 𐎧𐏁𐏂, , ), also called the First Persian Empire, was an ancient Iranian empire founded by Cyrus the Great in 550 BC. Based in Western Asia, it was contemporarily the largest empire in history, spanning a total of from the Balkans and Egypt in the west to Central Asia and the Indus Valley in the east. Around the 7th century BC, the region of Persis in the southwestern portion of the Iranian plateau was settled by the Persians. From Persis, Cyrus rose and defeated the Median Empire as well as Lydia and the Neo-Babylonian Empire, marking the formal establishment of a new imperial polity under the Achaemenid dynasty. In the modern era, the Achaemenid Empire has been recognized for its imposition of a successful model of centralized, bureaucratic administration; its multicultural policy; building complex infrastructure, such as road systems and an organized postal system; the use of official languages across ...
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