Our Economic System

The Objectives of our economy should be :

1. An assurance of minimum standard of living to every individual and preparedness for the defense of the nation.
2. Further increase above this minimum standard of living whereby the individual and the nation acquires the means to contribute to the world progress on the basis of its own 'Chiti'.
3. To provide meanings employment to every able bodies citizens by which the above two objectives can be realized and to avoid waste and extravagance in utilizing natural resources.
4. To develop suitable machines for Bharatiya conditions (Bharatiya Technology) taking note of the availability and nature of the various factors of production (Seven 'M's).
5. This system must help and not disregard the human being, the individual. It must protect the cultural and other values of life. This is requirement which cannot be violated except at a risk of great peril.
6. The ownership, state, private or any other form of various industries must be decided on a pragmatic and practical basis.

These are a few general directions which we must bear in mind while developing our economy. "Swadeshi" and "Decentralization" are the two words which can briefly summarize the economic policy suitable for the present circumstances. Centralization and monopolization have been the order of the day for all these years, knowingly or unknowingly. The planners have become prisoners of a belief that only large-scale centralized industry is economic and hence without worrying about its ill-effects, or knowingly but helplessly, they have continued in that direction. The same has been the fate of "Swadeshi". The concept of "Swadeshi" is ridiculed as old fashioned and reactionary. We proudly use foreign articles. We have grown over independent upon foreign aid in everything from thinking, management, capital, methods of production, technology, etc. to even the standards and forms of consumption. This is not the road to progress and development. We shall forget our individuality and become virtual slaves once again. The positive content of "Swadeshi" should be used as the cornerstone of reconstruction of our economy.

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