Question

what is bombay plan,people's plan,gandhian plan
plz give a long answer
this quetion is related to economics
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Answer 1

The Bombay Plan” is the nickname of a 15-year economic plan for India proposed by a group of industrialists and technocrats in January 1944. ... the plan's strategy and methods foreshadowed the official Five Year Plans of independent India launched just a few years later.

The Bombay Plan, the People's Plan and the Gandhian Plan: One of the most widely discussed plan during the 1940s was the Bombay Plan prepared by the Indian capitalists. It was a plan for economic development under considerable amount of government intervention.

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Answer 2

Answer:

1. History of India’s Economic Plans:

Independence came to India with the parti­tion of the country on 15 August 1947. In 1948, an Industrial Policy Statement was an­nounced.

It suggested the setting up of a National Planning Commission and framing the policy of a mixed economic system.

On 26 January 1950, the Constitution came into force. As a logical sequence, the Planning Commis­sion was set up on 15 March 1950 and the plan era started from 1 April 1951 with the launch­ing of the First Five Year Plan (1951-56).

ADVERTISEMENTS:

How­ever, the idea of economic planning in India can be traced back to the pre-independent days.

“The idea of economic planning gained currency in India during and after the years of the Great Agricultural Depression (1929-33). The then Government of India was by and large guided by a policy of leaving economic mat­ters to individual industrialists and traders.”

(i) 1934:

It is rather surprising that blue­prints for India’s planning first came from an engineer-administrator, M. Visvervaraya. He is regarded as the pioneer in talking about planning in India as a mere economic exer­cise. His book ‘Planned Economy for India’ pub­lished in 1934 proposed a ten-year plan. He proposed capital investment of Rs. 1,000 crore and a six-fold increase in industrial output per annum.

(ii) 1938:

In 1938, the Indian National Con­gress headed by Pandit J.L. Nehru appointed the National Planning Committee (NPC) to prepare a plan for economic development. The NPC was given the task of formulating a com­prehensive scheme of national planning as a means to solve the problems of poverty and unemployment, of national defence, and of economic regeneration in general. However, with the declaration of the World War II in September 1939 and putting leaders into prison, the NPC could not march ahead.

(iii) 1944:

ADVERTISEMENTS:

The Bombay Plan, the People’s Plan and the Gandhian Plan: One of the most widely discussed plan during the 1940s was the Bombay Plan prepared by the Indian capi­talists. It was a plan for economic development under considerable amount of government intervention.

It emphasised the industrial sec­tor with an aim of trebling national income and doubling of per capita income within a 15-year period. Under this plan, planning and industrialisation were synonymous.

An alternative to the Bombay Plan was given by M. N. Roy in 1944. His plan came to be known as People’s Plan. His idea of plan­ning was borrowed from the Soviet type plan­ning. In this plan, priorities were given to ag­riculture and small scale industries. This plan favoured a socialist organisation of society.

In the light of the basic principles of Gandhian economics, S. N. Agarwal authored ‘The Gandhian Plan’ in 1944 in which he put emphasis on the expansion of small unit pro­duction and agriculture. Its fundamental fea­ture was decentralisation of economic struc­ture with self-contained villages and cottage industries.