Economics · Indian Economy (1947-1990)
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?
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- 1There was a lack of demand for industrial goods in the domestic market, necessitating government intervention.
- 2Public sector industries were inherently more efficient than private sector ones.
- 3The private sector had sufficient capital and technological expertise to drive industrialization in all key sectors.
- 4The public sector was seen as a tool for achieving social goals, promoting balanced regional development, and controlling strategic industries.✓
Correct answer
The public sector was seen as a tool for achieving social goals, promoting balanced regional development, and controlling strategic industries.
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