Q. Town and Village Enterprises Policy was sometimes seen in news, the policy is implemented in which of the following country/region?
China started its economic reforms in 1978 with a primary focus on agriculture. It broke away from the commune system and liberated agri-markets from myriad controls.
During 1978-84, China’s agri-GDP grew by 7.1% per annum and farmers’ real incomes grew by 14% per annum with the liberalisation of agri-prices. As farmers’ real incomes doubled, poverty fell by half in just six years.
Industries: Enhanced incomes of rural people created a huge demand for industrial products. The aim of China’s manufacturing through Town and Village Enterprises (TVEs) was basically to meet the surging demand from the hinterlands.
Source: Indian Express