ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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ushering in of a new period of plan holiday and scuttling of planning itself. This may be considered as politically inexpedient.
Of considerable interest in this context is the hard work being put in by several interested groups and lobbies for influencing the adoption of a variety of options that are being posed to the political authority. The case for widening business opportunities for private business enterprise, Indian and foreign, in order to reduce the burden of financing development in the public sector through the government's budgetary resources is being pressed with special zeal. The series of liberalisation measures which have been taken in recent year have set the stage for what are called more bold and pragmatic policies, especially in the sphere of industrial development. It is being suggested that the government should unceremoniously vacate some areas of even infrastructural development, hitherto reserved for the public sector, for private enterprise, if not completely at least partly. There are also parallel moves for what is called privatisation, if not outright denationalisation, of many public sector projects in addition to denotifying many of the sick industries taken over by the government. The entire industrial policy and economic development strategy is in a state of flux. This was specifically and openly hinted at by the Prime Minister himself when he said in his speech in reply to motion of thanks on the President's address to Parliament that "we are looking at a new industrial policy". The role of foreign capital, including multinationals, in the development process is also admittedly under fresh scrutiny.

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