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Indian Economy 1950-1990 — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsIndian Economy 1950-19904 Marks
Question
Why was public sector given a leading role in industrial development during the planning period?
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Answer

Public sector has been playing a very significant role in the development of industries in the following way:
  1. Creation of a strong industrial base.
  2. Development of Infrastructure.
  3. Development of backward areas.
  4. To mobilise savings and earn foreign exchange.
  5. To prevent concentration of economic power.
  6. To promote equality of income and wealth distribution.
  7. To provide employment.
  8. To promote import substitution.

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