English_Master February 25, 2016 No Comments
NATIONALIZATION¬†IN INDIA The chapter of nationalization in the Indian economic development started immediately after independence. Iron and Steel industry was almost nationalized. Oil industry was nationalized.-Railways and Ordinance factories were already under State control. Heavy tools and heavy chemicals industries were started in public sector. All power projects were nationalized. Water supply for agriculture through canals and tubewells came to the nationalized sector. The distribution of food grains, kerosene and sugar was already with the government. Seeds and some other agricultural inputs like fertilizers were added to it. Sixteen years’ rule of Indira Gandhi saw the nationalization of Banks, Life insurance and General insurance. A very large number of sick textile mills were taken up by Textile Corporation of India. The important point is that during Indira regime all the financial resources of the country. All the basic industries, all the agricultural inputs, major part of the means of transport and communication came to the public sector. The government became a huge octopus spreading its tentacles over all the national and natural resources. It had a grave adverse effect on the economic and moral life of the people, rather, the whole country. No government has given these entire back to private sector to relax itself. The most serious effect...
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