December 2020
Intermediate to advanced
857 pages
42h 3m
English
Content preview from Business Environment, 4th Edition by Pearson
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18
Liberalization
499
BACKGROUND
The emergence of independent India on 15 August 1947, was the beginning of a
new, glorious era in the history of our country. The Government of India set up
the Planning Commission in 1950 to assess the country’s needs of material capital
and human resources in order to formulate plans for their more balanced and
eective utilisation. Since 1950–51, India has passed through 12 five-year plans and
several annual plans. The role of the private sector was fairly significant in the plan
frame up to the Third Five-Year Plan, but became somewhat eclipsed during the
1960s and 1970s as a result of the increasing dominance ...
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