FICCI Proposal & BOMBAY Plan

FICCI Proposal

This was a proposal propounded by the Federation of Indian chambers of commerce and industry, under the chairmanship of the N R Shankar in 1934.

In background, the world was fascinated by the working of planned economy, where government interferes and work for uplifting of every section of the society.

Under this proposal, the capitalist class found representation, it was like voice of them, the capitalists, every measure was suggested which in turn can help, assist and uplift the Indian business or industrial class.

In proposal, they backed and demanded for a central and powerful body like, planning commission, which should determine and lead the industrial sector.

And all these recommendations were aspiring for strong and steady growth of Indian industries.

 

Bombay Plan

Titled as “A plan of economic development in India” was report was published in fiscal year of 1944-45, by a report by industrial class to government

It was made by numerous capitalist leaders and wealthy peoples, comprising of Purushottam Thakur Das, J R D Tata, G D Birla, Lala Sri Ram and John Mathai etc.

Numerous suggestions made by them were:-

1- Agrarian reform, under this, they demanded reform in this sector which stand for reform likes, abolition of Zamindaari, the equal wage ad rights for Peasants, and reform in land revenue, to make peasant out of surf! Who was badly crumbled by the anti agriculture measures by Britishers, and the neglect this sector faced.

2- Industrialization, they voiced for heavy investment in the heavy industries, to permote the health of Indian capitalist class, they also resorted to suggest that the government should take clue from the soviet style of planning commission too.

3- They also suggested that, the investment in consumer industries, should also be increased to fulfill the demand of people, and to keep pace with demand, the difference between the Heavy Industry and Consumer industry is that, in former such things are made which are not directly consumed by the peoples like Steel Plants and under consumer industry, such things are manufactured which are directly consumed by people, like food processing and automobiles etc.

4- The small scale industry, medium scale industry and cottage industry should be permote to give employment to Indians, who were underemployed or unemployed, and it will also help in reviving the rural economy.

5- State has a major role in planning and in economic activity of the people, this was held by the committee, and they suggested this too, in repot.

 

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