Miscellaneous - This Day That Age   

dated December 29, 1958: Economic growth

The Colombo Plan Consultative Committee’s latest annual report, at the end of the chapter relating to India, discusses the trends in the Indian economy during the last year and it also indicates, in broad outline, the measures that have been taken so far to enable the process of development to proceed without endangering economic stability. The report says during the last three or four years, there has been a marked quickening in the tempo of economic activity in India. The problem facing India is how the momentum of her economic activity noticed in the last few years can be preserved. The annual rate of public expenditure on development and of private industrial investment during the past two years has been nearly double the average in the first Five Year Plan.

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