INDIAN ECONOMY

1950-1990

2.1 Introduction
 Nehru and many other leaders found an economic system
which combined the best features of socialism without its
drawbacks.

 The ‘Industrial Policy Resolution’ of 948 and the Directive
Principles of the Indian Constitution reflected this new outlook.

 In 1950,the Planning Commission was set up with the Prime
Minister as its chairperson.

Planning Commission: An organization set up by the Govt. of
India. It is responsible for making assessment of all resources of
the country; augmenting

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