The AFSPA Act passed in the Indian Parliament in 1958, granting special powers to the Indian Armed Forces to maintain public order in “disturbed areas”. Passed by both houses of Parliament and approved by the President, the Act came into force in the context of the growing violence and brewing unrest in the North Eastern [...]
A decade after independence in 1957, the amended The Indian Coinage Act was adopted allowing a decimal system for coinage. The Rupee remained unchanged in value and nomenclature, but each rupee was now divided into 100 “Paisa” instead of the earlier 16 Annas or 64 Pice. To allow sufficient time for public recognition, the new [...]
Life Insurance Corporation was established on September 1, 1956, with the passing of the Life Insurance of India Act in Parliament. Its primary aim was to ensure that every insurable person in India received adequate financial cover at a reasonable cost irrespective of whether they are in rural or urban areas; to this end, the [...]
The origin of India’s largest bank, the State Bank of India, can be traced back to the 27th of January, 1921. Formerly known as the Imperial Bank of India, it was created because of a merger between the three presidency banks, Bank of Bengal, Bank of Bombay and Bank of Madras. It was the last [...]
India and China signed The Panchsheel or Five Principles of Peaceful Coexistence on April 29, 1950, in what was seen as an attempt by the most populous states in Asia to coexist, despite the ambiguities they had inherited at the time. At the start of the 1950s, one of the main areas of dispute between [...]
JRD Tata founded Tata Airlines in the year 1932 with two aircraft as a fleet. Tata Airlines won a contract to carry mail for Imperial Airways. Passionate about flying, JRD as he was fondly called, frequently flew a single-engine de Havilland Puss Moth, a British three-seater high-wing monoplane. Post-WWII, regular commercial service was restored in [...]
The first ever Lok Sabha election in independent India was held between October 25 ,1951, and February 21, 1952. Around 173 million people out of our population of around 360 million at the time were eligible voters. 1949 candidates contested for 489 seats in the Lok Sabha, the founding elections of the world's largest democracy. [...]
India’s economy post-British Rule was in shambles. By the end of the British Rule in India, official census’s stated that India’s literacy rate was only about 12% (According to Oxfam) and much of India’s economy relied primarily on revenue from agriculture; recognising the importance of building the primary sector of the economy, Jawaharlal Nehru initiated [...]
1950 was another significant year for India, with India becoming a republic during this time. India’s first Republic Day was celebrated on 26th January, starting a tradition that has continued ever since. On this day, the Indian constitution came into force, thereby nullifying the 1935 Government India Act which was a remnant of British Rule [...]
One of independent India’s most significant achievements post-1947 was the adoption of the constitution. The document was adopted on 26th November 1949, making India a sovereign, democratic republic on paper. Interestingly, most members in the constituent assembly who pioneered the creation of the constitution were from the Congress party. However, the intensity of the constituent [...]
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