Miscellaneous - This Day That Age   

dated July 7, 1959: Private and Public Sectors

The importance of co-ordination and co-operation between the private and public sectors in our economy with “a friendly rivalry and competition useful to both, each trying to prove that it can do better than the other, thus leading to greater production” was emphasised by Mr. Lal Bahadur Shastri, Union Minister for Commerce and Industry, in his address to the tenth meeting of the Central Advisory council of Industries in New Delhi on July 6. Refuting the criticism that Government were not sympathetic to private industry, Mr. Shastri pointed out that the expansion which had taken place in the Private Sector during the Second Plan period was itself evidence of the sympathy and goodwill which Government had towards the Private Sector.

Another aspect which the Minister stressed in his address was the development of an integrated scheme of small scale industries in order to find employment for large numbers of young men. It was his suggestion that the big industrialists instead could place orders with smaller people for components, so that the small-scale industries could improve qualitatively and quantitatively.

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