Reintegrating India with the World EconomyPeterson Institute, 2003 |
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agreement agricultural allowed annual Asian average balance Bangladesh barriers billion capital central changes China commitments Committee companies compared competition continued controls cost crisis debt decision deficit Delhi demand developing countries dollars domestic Economic effect efficient employment estimate exchange rate exports Figure Finance firms fiscal flows foreign Free GATT Global gross groups growth rate higher imports improve increased India indicators industrial inflows infrastructure initiated institutions integration interest investment ISBN issues John labor liberalization license limited major manufacturing March measures ment negotiations noted operation Organization output parties payments percent Percentage period Plan political rapid reduced reforms remained require Reserve response restrictions rule sector September share Source South Korea standards strategy tariff tion trade Union United Uruguay Round workers World Bank
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Page 6 - The objective for the country as a whole was the attainment, as far as possible, of national self-sufficiency. International trade was certainly not excluded, but we were anxious to avoid being drawn into the whirlpool of economic imperialism.
Page 6 - The three fundamental requirements of India, if she is to develop industrially and otherwise, are: a heavy engineering and machine-making industry, scientific research institutes, and electric power. These must be the foundations of all planning, and the National Planning Committee laid the greatest emphasis on them.
Page 7 - to translate . . . the goals of social and economic policy prescribed in the Directive Principles of the Constitution into a national programme based upon the assessment of needs and resources", we find that a stagnant and dependent economy has been modernised and made more selfreliant.
Page 7 - Plan, p. 42 et seq. of incentives, for to the extent that controls limit the freedom of action on the part of certain classes, they provide correspondingly an incentive to certain others and the practical problem is always to balance the loss of satisfaction in one case against the gain in the other. For one to ask for fuller employment and more rapid development and at the same time to object to controls is obviously to support two contradictory objectives.