Economics · Indian Economy
Consider the emphasis placed on the public sector in India's industrial development strategy between 1947 and 1990. What was a key rationale behind giving the public sector a dominant role during this period?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1There was a complete lack of demand for industrial goods in the domestic market, necessitating government intervention.
- 2The public sector was seen as a tool for achieving social goals, promoting balanced regional development, and controlling strategic industries where private capital was lacking.✓
- 3The private sector had sufficient capital and technological expertise to drive industrialization in all key sectors.
- 4Public sector industries were inherently more efficient than private sector ones.
Correct answer
The public sector was seen as a tool for achieving social goals, promoting balanced regional development, and controlling strategic industries where private capital was lacking.
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