The Indian Journal of Economics April 1952

It bears a clear mark of the apathy and even antipathy of the ruling authority to economic progress technical advance and modenisation of methods and institutions in keeping with the requirments of the time and even to the protection and defence of the economy against the onslaught from without or disruption from within. [...] The planning authority in a backward economy has thus the major task of progressively narrowing the gap between the potential gross income and the actual gross income in real terms by turning the trend of the latter into upward direction This however should be done in a purposive manner so that the fruits of expansion are realised in terms of goods and services capable of fulfilling the calcula [...] The abolition of Zamindari the imposition of an upper as well as a lower ceiling on land holdings the redistribution of holdings above the maximum and the cooperative consolidation of holdings below the minimum even with a certain FINANCIAL CONTROLS AND PLANNING IN A PACKWAIP ECONOMY 41' amount of coercion will go far to remedy the situation arkl remove excessive land-mindedness in the people. [...] The nature of the mixed economy suitable will differ from one economy to another according to the stage of its development the phase of the trade cycle in which it finds itself at the time and the social and economic objectives that the planers may have in mind. [...] The concensus of opinion in IndiaROLE OF FINANCIAL AND FISCAL MEASURES 423 ;oday seems tapprove of the demarcation of the public and )riva.te gectors of enterprise enunciated in the Industrial Policy iesolution" of the Goverriment of India of April 1948.