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From 50 Year Ago (6 May 2006)

affirmation of faith, whereby the Govern-allowed to set up new units also. But even FROM 50 YEARS AGO ment affirms that it stands by the promises in schedule A, there is no bar to the coin the preamble to the Constitution, reaffirms existence of the existing units. These are not that ours is a Welfare State, and accepts once to be nationalised, but no new units will be again the directives of State policy which permitted to be set up in the private sector, promise everything to every body, but make except those which have already been apno provision for the eventual realisation of proved. Central monopolies are only in rail- Vol VIII, No 18, May 5, 1956 those promises, and do not bother to say which way and air transport, arms and ammunition ones are to prevail, if the Directive Principles and atomic energy. Even in industries in Reaffirmation of conflict with one another, as many of them do... schedule A expansion of existing privatelyWelfare State The list of industries for which all new owned units is not precluded nor the possi( Editorial) units, save where other establishments in the bility of the State securing the co-operation private sector have already been approved, of private enterprise in the establishment of Dissatisfied with the draft that the Cabinet the future development of which will be the new units when national interests so require. had drawn up, when Pandit Nehru undertook exclusive responsibility of the State, has been All the remaining industries will fall in the to draft the resolution himself, an irreverent considerably expanded. But the only addi-third category which are to be normally left Delhi correspondent had remarked that his tions of importance are manufacture of heavy to be developed by private enterprise... drafting might add to verbal irritation and plant and machinery, required for basic in-The policy statement has been welcomed ideological gas, but he was sure to offend the dustries and heavy electrical plant. Though and found reassuring, both by the sections of private sector, without necessarily enlarging coal had also been in this category in the the public which want the State to go ahead the role of the public sector... earlier statement, the significant change is in more actively with development of industries Another, and a better way, perhaps

affirmation of faith, whereby the Govern-allowed to set up new units also. But even

FROM 50 YEARS AGO

ment affirms that it stands by the promises in schedule A, there is no bar to the coin the preamble to the Constitution, reaffirms existence of the existing units. These are notthat ours is a Welfare State, and accepts once to be nationalised, but no new units will be again the directives of State policy which permitted to be set up in the private sector, promise everything to every body, but make except those which have already been apno provision for the eventual realisation of proved. Central monopolies are only in rail-Vol VIII, No 18, May 5, 1956 those promises, and do not bother to say which way and air transport, arms and ammunition ones are to prevail, if the Directive Principles and atomic energy. Even in industries in

Reaffirmation of

conflict with one another, as many of them do... schedule A expansion of existing privatelyWelfare State The list of industries for which all new owned units is not precluded nor the possi(Editorial) units, save where other establishments in the bility of the State securing the co-operation

private sector have already been approved, of private enterprise in the establishment of

Dissatisfied with the draft that the Cabinet the future development of which will be the new units when national interests so require. had drawn up, when Pandit Nehru undertook exclusive responsibility of the State, has been All the remaining industries will fall in the to draft the resolution himself, an irreverent considerably expanded. But the only addi-third category which are to be normally left Delhi correspondent had remarked that his tions of importance are manufacture of heavy to be developed by private enterprise... drafting might add to verbal irritation and plant and machinery, required for basic in-The policy statement has been welcomed ideological gas, but he was sure to offend the dustries and heavy electrical plant. Though and found reassuring, both by the sections of private sector, without necessarily enlarging coal had also been in this category in the the public which want the State to go ahead the role of the public sector... earlier statement, the significant change is in more actively with development of industries

Another, and a better way, perhaps – that the emphasis on the development of and by the private sector on which the sword depends on one’s predilections – would be minerals...It is not, however, that all basic of Damocles had been hanging so long, since to describe the result, not as a policy statement industries are reserved exclusively for the its continued existence in the reserved fields but as an enunciation of an industrial, if not public sector. Basic chemicals as well as after a period of 10 years of the last policy an economic philosophy. It is definitely far essential drugs appear in schedule B where statement of 1948 had been left undecided. above the level of party manifestos or elec-co-existence is assured, not only to the ex-No time limit has been set for the operation tioneering literature; it should be read as an isting units but private enterprise will be of the present policy.

Economic and Political Weekly May 6, 2006

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