Question

Give justification for adopting the strategy of industrialization

Answer 1

The principal objectives of Indian planning, includes increase in national income, in employment, condition in income disparities and poverty and achieving self-reliance. In the last lesson we also discussed the broad choice of development strategy between balanced and unbalanced growth. In this section we shall analyse what has been the strategy of the Indian planners to achieve the desired objectives. What role was assigned to the Industry in particular the Heavy Industry. What were the policy interventions and how they impacted on one another and different sectors of the economy with a view to achieve the desired objectives of developments. What went wrong with this strategy of development and what is the NEW INDUSTRIAL STRATEGY.