Explain the salient features of the strategy of industrial growth during the period 1950-90
Explain the salient features of the strategy of industrial growth during the period 1950-90
1. Public enterprises were to play a central role in the process of industrialization.
2. Private enterprises were to play only a secondary role in the process of industrialization and that too under permit – license raj.
3. Process of industrialization was to proceed in tandem with the key policy instrument of import substitution. It was to foster the objective of growth with self-reliance.
4. As far as possible, the domestic industry was to be protected from foreign competition. It was realized that protection would accelerate the pace of growth with self-reliance.
5. Large scale industry was to be developed with a view to building in the infrastructural base in the country.
1. Public enterprises were to play a central role in the process of industrialization.
2. Private enterprises were to play only a secondary role in the process of industrialization and that too under permit – license raj.
3. Process of industrialization was to proceed in tandem with the key policy instrument of import substitution. It was to foster the objective of growth with self-reliance.
4. As far as possible, the domestic industry was to be protected from foreign competition. It was realized that protection would accelerate the pace of growth with self-reliance.
5. Large scale industry was to be developed with a view to building in the infrastructural base in the country.
