Economy, asked by vishnunama4683, 1 year ago

15. Why was it necessary for a developing country like India to follow self reliance as a planning objective?

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Answered by Anonymous
4
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➥ It was necessary for a developing country like India to follow self-Reliance as a planning objective otherwise, it would increase the country's dependence on foreign products .

➥ Further it was feared that dependence on imported food supplies,foreign technology and foreign capital metec India's sovereignties vulnerable to foreign interference in our policies .
Answered by BoldStyle
6

It was necessary for a developing country like India to follow self reliance as a planning objective because :-

Without self-reliance a country will have dependency on foreign products which will never improve the domestic sector .

From an economic perspective dependence on foreign goods causes reduction in foreign reserves .

These reserves can be used for development of the country .

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