Teja

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All of them have the following six characteristics of the Soviet economic strategy in different stages of dilution due to the exigencies of the situation: i) Priority to capital goods sectors on the supposition that supply creates its own demand. ii) Squeezing agriculture through taxes, terms of trade and credit-deposit ratios of government banks to raise funds for financing industry. iii) Heavy taxes on consumption to curb it. iv) Import substitution measures. v) Controls and levies on finance such as of banks, insurances, etc. vi) ‘Commanding Heights’ of the economy in the public sector, and ...more
RESET: Regaining India’s Economic Legacy
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