In industrial development in India, government played a leading role. Why?OR
Why was public sector given a leading role in industrial development during the planning period? Explain any two reasons.
Why was public sector given a leading role in industrial development during the planning period? Explain any two reasons.
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- At the time of independence as the size of the market was small to lure industrialist to invest their capital (as they also lacked the initiative to invest). So the government / state had to play an extensive role in promoting the industrial sector.
- Secondly to develop Indian economy on socialist lines led to the policy of the state controlling the commanding heights of the economy.
- Private sector was to be complementary to the public sector, with the latter leading the way.
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