Jawaharlal Nehru 's Plan Based On Policies Of The Soviet Union

889 WordsMay 24, 20164 Pages
2.3 Nehru Plan Nehru’s period was known by extended economic development plans that organized as five year plans based on policies of the Soviet Union. Given the colonial conditions that India had been through; these plans were particularly admirable for them. By 1970s, regulatory policy regime of India became gradually restrictive and inward-oriented. For Nehru Period; Indian economic framework was summarized as follows (Narang, 2012): 1. State will provide straight financing starting with most critical industrial divisions 2. State will enhance balanced supply and demand in the household market. 3. State will eliminate unfair competition 4. State will secure best utilization methods of social assets. Nonetheless, these procurements were perceived as limitative that led to generation of handicaps on industrial improvements in order to achieve those goals. As a case in point, under this act, a preceding authorization was mandatory in order to; 1) Institute a novel industrial cooperative; 2) Enlarge yielding’s by more than 5 % per year; 3) Enlarge yielding’s by more than 25% over a period of five years. For this reason, state was not just entitled as a provider of assistance and supervision for industrialization as it was manifested in Japan, South Korea and Taiwan; but its role was protracted as an authority on all operational settlements including technological improvements or adaptations and position and spectrum of the operation itself (Narang, 2012). 2.4 Foreign

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