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Explain the rationale behind choosing 'self-reliance' as a central planning objective in India's development strategy. - Economics

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Question

Explain the rationale behind choosing 'Self-reliance' as a central planning objective in India's development strategy.

Explain

Solution

'Self-reliance' was adopted as a central planning objective in India's development strategy by the policymakers due to the following reasons:

  • To reduce the dependence on foreign nations, the stress was laid on mobilising domestic resources.
  • It was feared that the dependence on imported food supplies, foreign technology, and foreign capital may increase foreign interference in our policies.
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