Miscellaneous - This Day That Age   

dated May 1, 1956: New industrial policy

Prime Minister Nehru told the Lok Sabha on April 30 that the State would progressively assume direct responsibility for setting up new industrial undertakings and for development of transport facilities. Enunciating the Government of India's new industrial policy, he said, "The State will also undertake trading on an increasing scale. At the same time, as an agency for planned national development in the context of the country's expanding economy, the private sector will have the opportunity to develop and expand." The Prime Minister said the principle of co-operation should be applied wherever possible and a steadily increasing proportion of activities of the private sector developed along co-operative lines. Emphasising the need for maintaining industrial peace in the country, he said, "In a socialist democracy, labour is a partner in the common task of development and should participate in it with enthusiasm."

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

CARTOONSCAPE
The Hindu Crossword 8591
Solution to Puzzle 8590
Consummate devotion
dated May 1, 1956: New industrial policy
dated May 1, 1956: Decimal coins
dated May 1, 1956: Cremation of Hitler's body
Weather

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu