Miscellaneous - This Day That Age   

dated December 15, 1958: Approach to Third Plan

A general indication of the Congress approach to the Third Plan was given in a resolution adopted by the Congress Working Committee in New Delhi on December 14. The emphasis throughout is to discover new resources, reduce public as well as private expenditure, and to step up the rate of investment, without which progress is impossible. The Committee suggests that public enterprises and State trading should be run so as to yield additional resources for public purposes. Wages and salaries should be dependent on work done and on production, and should be related to the conditions existing in India. The Committee suggests that profit in the private sector should also be controlled.

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