Discuss some of the sources of thinking that went in to formulating a strategy for development immediately after independence? 500 words
Answers
Ever since Independence, a rapid rise in national income and in the standard of living has been the stated goal of development. Even for removal of poverty it was felt that the economy has to display high rates of growth. Redistribution of existing wealth was not thought entirely feasible; it was also thought that there would not be much to redistribute. So faith was placed on the growth process. Growth, though necessary, was by no means sufficient to transform the economy and also to uphold the ideals of the Constitution. Thus, social justice became an added and enduring objective. Along with this, because India had just emerged from colonial rule, there was a mistrust of the international economy, and faith was placed on ‘self-reliance’. By the Second Five Year Plan, self-reliance took the form of ‘import-substitution’. Later, in the Fourth Five Year Plan, self-reliance came to be seen as less and less reliance on foreign investment. Thus, growth with social justice and self-reliance defined the mentioned sense, remained the central and enduring objectives of development for a long time.
Even before Independence, national leader’s were convinced about the efficacy of planning for a-poor country such as India. The National Planning Committee appointed by the Indian National Congress and headed by Jawaharlal Nehru submitted its’ report in 1938. The Committee felt that India had to, industrialize. The three essentials for this were thought to be
i) heavy engineering and machine-making industry,
ii) scientific research institutes, and
iii) electric power. The committee was of the view that even with international interdependence among nations, and even allowing for cottage and small scale industries, to be economically strong, India must be industrialized in terms of big scale industries and develops its power sector.
The First Five Year Plan was a basic collection of projects, did not have much physical targeting and merely sought to indicate directions, of planning. The main contours of almost all future strategy till 1991, as well as giving the basic structure and also the thrust of economic strategy emerged with the second. Five Year Plan.
The Second Five Year Plan, launched in 1956-57, was part of a general strategy of development, and was accompanied by other policy measures, The framework of the Second Five-year Plan, with minor modifications, remained the mainstay of all future plans and policies till the beginning of the 1990s.
The architect of Second Five Year Plan was P.C. Mahalanobis. The central idea behind the Second Five Year Plan was that to raise the standard of living of the people, the economy needed to grow very fast. And for the economy to grow very fast, the planners felt that industrialization was the key. Industrialization meant that plants and machinery had to be set up which produce output. The Second Five Year Plan stressed the production of those machines that produce other machines as output. These .industries where machines produce other machines and equipment are called heavy industry. Thus the basic idea was that the productive capacity of the mono itself had to be increased.
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Answer:
The basic strategy of development adopted in India was the following:
Ever since Independence, a rapid rise in national income and in the standard of living has been the stated goal of development. Even for removal of poverty it was felt that the economy has to display high rates of growth. Redistribution of existing wealth was not thought entirely feasible; it was also thought that there would not be much to redistribute. So faith was placed on the growth process. Growth, though necessary, was by no means sufficient to transform the economy and also to uphold the ideals of the Constitution. Thus, social justice became an added and enduring objective. Along with this, because India had just emerged from colonial rule, there was a mistrust of the international economy, and faith was placed on ‘self-reliance’. By the Second Five Year Plan, self-reliance took the form of ‘import-substitution’. Later, in the Fourth Five Year Plan, self-reliance came to be seen as less and less reliance on foreign investment. Thus, growth with social justice and self-reliance defined the mentioned sense, remained the central and enduring objectives of development for a long time.
Even before Independence, national leader’s were convinced about the efficacy of planning for a-poor country such as India. The National Planning Committee appointed by the Indian National Congress and headed by Jawaharlal Nehru submitted its’ report in 1938. The Committee felt that India had to, industrialize. The three essentials for this were thought to be
i) heavy engineering and machine-making industry,
ii) scientific research institutes, and
iii) electric power. The committee was of the view that even with international interdependence among nations, and even allowing for cottage and small scale industries, to be economically strong, India must be industrialized in terms of big scale industries and develops its power sector.
The First Five Year Plan was a basic collection of projects, did not have much physical targeting and merely sought to indicate directions, of planning. The main contours of almost all future strategy till 1991, as well as giving the basic structure and also the thrust of economic strategy emerged with the second. Five Year Plan.
The Second Five Year Plan, launched in 1956-57, was part of a general strategy of development, and was accompanied by other policy measures, The framework of the Second Five-year Plan, with minor modifications, remained the mainstay of all future plans and policies till the beginning of the 1990s.
The architect of Second Five Year Plan was P.C. Mahalanobis. The central idea behind the Second Five Year Plan was that to raise the standard of living of the people, the economy needed to grow very fast. And for the economy to grow very fast, the planners felt that industrialization was the key. Industrialization meant that plants and machinery had to be set up which produce output. The Second Five Year Plan stressed the production of those machines that produce other machines as output. These .industries where machines produce other machines and equipment are called heavy industry. Thus the basic idea was that the productive capacity of the mono itself had to be increased.
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