Miscellaneous - This Day That Age   

dated December 23, 1958: Development of India

Addressing the Hindustan Chamber of Commerce in Madras on December 22, Mr. G.B. Pant, Union Home Minister, assured businessmen that having accepted a mixed economy for the country, “there is no desire in any quarter to cause any damage to the private sector, because it will recoil on us and the country.” Appealing to them to consider every question in a “rational and realistic way,” Mr. Pant said that entrepreneurs and industrialists had “to face risks now in the building of a new, rich, self-sufficient and noble fabric of India.” Mr. Pant said that there seemed to be agreement to a considerable degree on the fundamentals of the basic policies of the Government. The country had to solve many economic problems and had also to sustain its democratic system.

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