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Relevance of gandhian economic thought to modern india

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Gandhian principles relevant in modern economics

• Gandhiji advocated socialism which could reduce the gap between rich and poor.

• His concept of self-reliance led to establishment of cottage industries and rural employment programs like MNREGA.

• Decentralisation of production and consumption for fair distribution of wealth amongst all sections of society.

• The spirit of Swadeshi which will lead to demand for domestic goods.

• Labour intensive production to create employment opportunities

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