By J. F. J. Toye

ISBN-10: 0521230810

ISBN-13: 9780521230810

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G. Nayar (1972). 23 24 General element in the concept of modernity, which implies a steady and successful achievement by non-European countries of the ideals of European civilization. Quite to the contrary of these ideals, the actual history of the spread of capitalism has been characterized by uneven development, international conflict and the rise to power of embodiments of unreason and barbarism. National sovereignty is pursued by ex-colonies like India because they have to exist, if they are to exist, in an international arena in which the ultimate rule of action in foreign relations is sauve quipeut.

144-5; Shah (1949), pp. 112, 119. 46 Kidron (1965), pp. 83-8. Indian nationalism and accumulation policy 35 even at the high tide of enthusiasm for the 'socialist pattern' in 1956, the role of the state remained vague, the elaborate attempts at precision only emphasizing the underlying fluidity. 47 For all other industries, the Resolution was consistent with any combination of public and private enterprise which the government cared to decide upon. The scope for pragmatism without formal breach of the Resolution was extensive.

The Second World War, like the First, had emphasized the serious lacunae in India's range of industrial production. Accordingly, it is not surprising to find that the Bombay Plan puts industry's investment share even higher than the actual Second Five-Year Plan; and that the rationale of rapid industrialization in terms of national security is stated with exceptional clarity. But the commitment to ownership of industry by the state was hedged around carefully with qualifications. State control (presumably an improved version of the existing wartime economic controls) was held to be more important than state ownership as a general rule.

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Public Expenditure and Indian Development Policy 1960-70 by J. F. J. Toye


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