Rebooting Economy 70: The Bombay Plan and the concept of AatmaNirbhar Bharat

Rebooting Economy 70: The Bombay Plan and the concept of AatmaNirbhar Bharat

The Bombay Plan, authored by the doyens of industry in 1944 first envisioned state planning, state ownership and control of industries to make India "self-sufficient" long before Nehru's ideas took root

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The best years of growth in national income and income share of the bottom 50% and the middle 40% happened during the "Nehruvian socialism" periodThe best years of growth in national income and income share of the bottom 50% and the middle 40% happened during the "Nehruvian socialism" period
Prasanna Mohanty
  • Feb 27, 2021,
  • Updated Feb 27, 2021 8:26 PM IST

The Indian government not only proposes to de-nationalise public assets, but it also seeks a larger role for private wealth creators by giving them "as much opportunity" to turn India into AatmaNirbhar Bharat, as Prime Minister Narendra Modi spelt out at the sixth governing council meeting of Niti Aayog on February 20, 2021.

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This completes a circle that began with the Bombay Plan of 1944 which had sought the exact opposite while envisioning a "self-sufficient" India (the concept of AatmaNirbhar Bharat then) after the end of the colonial rule.

The Bombay Plan of 1944 was authored by the doyens of industry at the time who sought a larger and stronger role for the government (state) by way of "state ownership", "state control" and "state management" of production; distribution; consumption; investment; foreign trade and exchange and wages and working conditions.

Also Read:

The Indian government not only proposes to de-nationalise public assets, but it also seeks a larger role for private wealth creators by giving them "as much opportunity" to turn India into AatmaNirbhar Bharat, as Prime Minister Narendra Modi spelt out at the sixth governing council meeting of Niti Aayog on February 20, 2021.

Advertisement

This completes a circle that began with the Bombay Plan of 1944 which had sought the exact opposite while envisioning a "self-sufficient" India (the concept of AatmaNirbhar Bharat then) after the end of the colonial rule.

The Bombay Plan of 1944 was authored by the doyens of industry at the time who sought a larger and stronger role for the government (state) by way of "state ownership", "state control" and "state management" of production; distribution; consumption; investment; foreign trade and exchange and wages and working conditions.

Also Read:

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