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Kerala PSC Indian Economy Book Study Materials Page 91Book's First Page
lannin in ndia 5.5 from the 1920s, was very conscious of the need (ii) Agreement on rapid industrialisation for decentralised planning in the country.17 for which both the plans agreed upon an emphasis on heavy capital goods and the bombAy PlAn basic industries (the Bombay Plan had The Bombay Plan was the popular title of ‘A Plan allocated 35 per cent of its total plan of Economic Development for India’, which was outlay on basic industries). prepared by a cross-section of India’s leading (iii) Taking clues from the Soviet Planning, the capitalists. The eight capitalists involved in this NPC and the Bombay Plan both were in plan were Purshotamdas Thakurdas, J.R.D. Tata, favour of a simultaneous development of G.D. Birla, Lala Sri Ram, Kasturbhai Lalbhai, the essential consumer goods industries, A.D. Shroff, Avdeshir Dalal and John Mathai.18 but as a low-key affair. The Plan was published in 1944–45. Out of these (iv) Both the plans agreed upon the eight industrialists, Purshotamdas Thakurdas importance of promoting the medium- was one among the 15 members of the National scale, small-scale and cottage industries Planning Committee (1938);19 J.R.D. Tata, G.D. as they could provide greater employment Birla and Lala Sri Ram, were members of the sub- and require lesser capital and lower order committees (29 in total) of the National Planning of plants and machineries. Committee.20 (v) Both the plans wanted the state to play The popular sentiments regarding the need an active role in the economy through of planning and criss-cross of memberships planning, controlling and overseeing the between the NPC and the Bombay Plan club different areas of the economy, i.e., trade, made possible some clear-cut agreements between industry and banking, through state these two major plans, which ultimately went to ownership (public sector) or through mould the very shape of the Indian economy after direct and extensive control over them. Independence. We may have a look at some of the (vi) Large-scale measures for social welfare very important agreements:21 were favoured by both the plans, which (i) A basic agreement on the issue of the suggested to be based on issues like, agrarian restructuring—abolition of all right to work and full employment, the intermediaries (i.e., zamindari abolition), guarantee of a minimum wage, greater minimum wages, guarantee of minimum state expenditure on housing, water or fair prices for agricultural products, and sanitation, free education, social cooperatives, credit and marketing insurance to cover unemployment and supports. sickness and provision of utility services 17. A. H. Hanson, The Process of Planning: A Study of such as electricity and transportation at a India’s Five-Year Plans, 1950–1964 (london: Oxford low cost through state subsidies. University Press, 1966), pp. 152–55. 18. Bipan Chandra, ‘The Colonial Legacy’, p. 23. (vii) Both the plans agreed upon a planning 19. Partha Chatterjee, ‘Development Planning and the Indian which could do away with gross Planning’, in Partha Chatterjee (ed.), State and Politics in inequalities. Through measures like India (New Delhi: Oxford University Press, 1997), p. 273. progressive taxation and prevention of 20. Rakesh Mohan, ‘Industrial Policy and Contorls’, in Bimal Jalan (ed.), Indian Economy: Problems and Prospects concentration of wealth. Inequality was (New Delhi: Penguin Books, 1994). considered undesirable as it tended to 21. Bipan Chandra, ‘The Colonial Legacy’, pp. 23–31. restrict the domestic market.