ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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How Small Man Oriented Are Small

THE Directive Principles of the Indian Constitution call for the establishment of a welfare state. Subsequently, in 1954, Parliament adopted a "socialistic pattern of society'' as the national objective. The strategy of the Five- Year Plans as well as the official pronouncements on fiscal, industrial and other economic policies of the government of India have also underlined the importance of economic growth with social justice. However, the simultaneous pursuit of these objectives has not been effective. Of ten considerations of capital formation in private hands as a means of accelerated economic development has prevailed over those of equality and social justice.

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