Solving India's unemployment through industrial planning. - Page 134 |
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established the National Industrial Development Corpora-
! tion, the Industrial Credit and Investment Corporation,
j and the State Finance Corporation. The working functions
! of all these bodies are the steps to control, direct, and
advise the industrial development according to the
requirements of the field, as we discussed.
Public sector. The leading industrial role to be
played by public investment stands out clearly. It is
clear that the new government plants will constitute a
lead sector intended to prime the pump of Indian industrial
growth during the next five years. It will generate the
bulk of new industrial employment and provide new jobs.
The responsibilities for new developments in regard to
; exploitation of the minerals and basic and capital goods
| Industries, which determine the rate of growth of the
economy, should in the main be undertaken by the State.
I Vakil and Brahmanand stressed their views as follows:
Public ownership partial and complete, and public control or participation in management are specially required in those fields where technological considerations tend towards a concentration of economic power and wealth.3
The entire process of investment would be looked
upon as a joint social responsibility with a view to the
3c. N. Vakil and P. R. Brahmanand, Planning for an Expanding Economy (Bombay, India: Vora and Company, Ltd., 1956), p. f r - 3 * __________________ .....__________ ___
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| Title | Solving India's unemployment through industrial planning. - Page 134 |
| Repository email | cisadmin@lib.usc.edu |
| Full text | established the National Industrial Development Corpora- ! tion, the Industrial Credit and Investment Corporation, j and the State Finance Corporation. The working functions ! of all these bodies are the steps to control, direct, and advise the industrial development according to the requirements of the field, as we discussed. Public sector. The leading industrial role to be played by public investment stands out clearly. It is clear that the new government plants will constitute a lead sector intended to prime the pump of Indian industrial growth during the next five years. It will generate the bulk of new industrial employment and provide new jobs. The responsibilities for new developments in regard to ; exploitation of the minerals and basic and capital goods | Industries, which determine the rate of growth of the economy, should in the main be undertaken by the State. I Vakil and Brahmanand stressed their views as follows: Public ownership partial and complete, and public control or participation in management are specially required in those fields where technological considerations tend towards a concentration of economic power and wealth.3 The entire process of investment would be looked upon as a joint social responsibility with a view to the 3c. N. Vakil and P. R. Brahmanand, Planning for an Expanding Economy (Bombay, India: Vora and Company, Ltd., 1956), p. f r - 3 * __________________ .....__________ ___ |
