Topic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
4) “With the New government India needs a New Bombay Plan”. Elucidate. (250 words)
Why this question:
The article is in the backdrop of the new government that has come into place and places the need for new Bombay plan for the Indian economy.
Key demand of the question:
The answer must discuss the relevance of Bombay plan for the present economy and the nuances of the same.
Elucidate – Give a detailed account as to how and why it occurred, or what is the particular context. You must be defining key terms where ever appropriate, and substantiate with relevant associated facts.
Structure of the answer:
Begin with brief write up on what was Bombay plan
Discussion should include the following aspects –
- Explain what was Bombay plan? How is it relevant even today?
- Discuss its potential to change the direction of economic development in the country and how it also happens to be one that is worth emulating today.
- Explain why it is necessary for the new government to have a vision in this direction?
Conclude with significance of such plans in bringing an overhaul in the economy of the country.