It was the first Prime Minister of India, Jawaharlal Nehru, along with noted statistician Prasanta Chandra Mahalanobis, who formulated and supervised economic policy of India after its independence. The concept of Five-Year Plans came into existence, which were influenced by the central planning in the Soviet Union. A number of industries were nationalised during the mid-1950s, which included telecommunication, mining, steel, water, machine tools, electrical plants, insurance and a few more Setting up new businesses required elaborated licenses and regulations. 'Red Tapeism' was also a part of it between 1947 and 1990.
Who is the author of "Planned Economy for India" ? | |||
Right Option : B | |||
View Explanation |
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