The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
INDIA'S Second Five-Year Plan commenced on the first of April 1956. Largely under the Prime Minister's personal direction, a Plan Frame for the Second Plan had been made available fully 12 months earlier and during that year there was much lively debate on its contents.[i] But the final document presented to Parliament on May 15, 1956, was based substantially on the original estimates. This is largely because the range of choice at this time is remarkably small, both in a political and economic sense.
Those who read into India's Second Plan a leftist turn must appreciate this point: that the size of the Plan and its structure have been fixed by non-ideological considerations.[ii] While undue emphasis was placed on controls, and although it certainly restricted private organized industry, it was not totalitarian. In any case, the major bias against the private sector has been corrected; under the new Industrial Policy Resolution, Indian organized industry