Old time of Bombay Plan and its impact today. It is important to ponder over the below statement:
- To some extent, the kind of corruption that is agitating India today was built into the Bombay Plan as it detailed the facilitating role of the government and the public sector in promoting private enterprise. As such, this must be reformulated.
Here is very interesting perspective by Dr Ashok V Desai on the current debate on coal scandal which hunts the ruling UPA government.
- Everything worked fine for the next 14 years. Then the government was briefly subverted by liberals who believed that the wholesale nationalizations had been a mistake and that competition amongst privately owned businesses was best. Led by P.V. Narasimha Rao, they wrought a revolution in industrial policy. The Coal Nationalization Act was amended in 1993 allowing allocation of blocks to private enterprises for captive exploitation.