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Bombay Plan
The Bombay Plan is the name commonly given to a World War II-era set of Import substitution industrialization-based proposals for the development of the post-independence economy of India. The plan, published in 1944/1945 by eight leading Indian industrialists, proposed state intervention in the economic development of the nation after independence from the United Kingdom (which took place in 1947). Titled ''A Brief Memorandum Outlining a Plan of Economic Development for India'', the signatories of the plan were J. R. D. Tata, Ghanshyam Das Birla, Ardeshir Dalal, Lala Shri Ram, Kasturbhai Lalbhai, Ardeshir Darabshaw Shroff, Sir Purshottamdas Thakurdas and John Mathai. The Plan went through two editions: the first was published in January 1944. This first edition became "Part I" of the second edition, published in 2 volumes in 1945 under the editorship of Purushottamdas Thakurdas. Although Jawaharlal Nehru, the first Prime Minister of India, did not officially accept the plan, "the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing military alliances: the Allies and the Axis powers. World War II was a total war that directly involved more than 100 million personnel from more than 30 countries. The major participants in the war threw their entire economic, industrial, and scientific capabilities behind the war effort, blurring the distinction between civilian and military resources. Aircraft played a major role in the conflict, enabling the strategic bombing of population centres and deploying the only two nuclear weapons ever used in war. World War II was by far the deadliest conflict in human history; it resulted in 70 to 85 million fatalities, mostly among civilians. Tens of millions died due to genocides (including the Holocaust), starvation, ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ardeshir Darabshaw Shroff
Ardeshir Darabshaw Shroff (4 June 1899 – 27 October 1965) was an industrialist, banker and economist of India. In 1944, Shroff served as a non-official (since India was not yet independent) delegate at the United Nations "Bretton Woods Conference" on post-war monetary and financial systems. In the same year, and with seven other leading industrialists, Shroff co-authored the Bombay Plan, which was a set of proposals for the development of the post-independence Indian economy. In the 1950s, Shroff was founder-director of the Investment Corporation of India and company chairman of Bank of India and the New India Assurance Company Limited. In 1954, Shroff co-founded the Forum of Free Enterprise think tank as a means to counter the socialist tendencies of the Nehru government. He complained against the indifference with which the state treated entrepreneurs, and asserted that if the Government of India were to shed some of their 'impractical ideologies' and extend their active s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprises
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs are government entities established to pursue financial objectives and deve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indian Rupee
The Indian rupee ( symbol: ₹; code: INR) is the official currency in the republic of India. The rupee is subdivided into 100 ''paise'' (singular: ''paisa''), though as of 2022, coins of denomination of 1 rupee are the lowest value in use whereas 2000 rupees is the highest. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934. Etymology The immediate precursor of the rupee is the ''rūpiya''—the silver coin weighing 178 grains minted in northern India by first Sher Shah Suri during his brief rule between 1540 and 1545 and adopted and standardized later by the Mughal Empire. The weight remained unchanged well beyond the end of the Mughals until the 20th century. Though Pāṇini mentions (), it is unclear whether he was referring to coinage. ''Arthashastra'', written by Chanakya, prime minister to the first Maurya ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jawaharlal Nehru
Pandit Jawaharlal Nehru (; ; ; 14 November 1889 – 27 May 1964) was an Indian anti-colonial nationalist, secular humanist, social democrat— * * * * and author who was a central figure in India during the middle of the 20th century. Nehru was a principal leader of the Indian nationalist movement in the 1930s and 1940s. Upon India's independence in 1947, he served as the country's prime minister for 16 years. Nehru promoted parliamentary democracy, secularism, and science and technology during the 1950s, powerfully influencing India's arc as a modern nation. In international affairs, he steered India clear of the two blocs of the Cold War. A well-regarded author, his books written in prison, such as ''Letters from a Father to His Daughter'' (1929), '' An Autobiography'' (1936) and ''The Discovery of India'' (1946), have been read around the world. During his lifetime, the honorific Pandit was commonly applied before his name in India and even today too. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Mathai
John Matthai CIE (1886–1959) was an economist who served as India's first Railway Minister and subsequently as India's Finance Minister, taking office shortly after the presentation of India's first Budget, in 1948. He was born on January 10, 1886, as the son of Challiyal Thomas Matthai and Anna Thayyil to an Anglican Syrian Christian family. He graduated in economics from the University of Madras. He served as a Professor and Head in University of Madras from 1922 to 1925. He presented two Budgets as India's Finance Minister, but resigned following the 1950 Budget in protest against the increasing power of the Planning Commission and P. C. Mahalanobis. He was the first Chairman of the State Bank of India when it was set up in 1955. He was the founding President of the Governing Body of the National Council of Applied Economic Research (NCAER) in New Delhi, India's first independent economic policy institute established in 1956. He served as the Vice Chancellor of the Univ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purshottamdas Thakurdas
Sir Purshottamdas Thakurdas (1879–1961), , was a Gujarati cotton trader, mill owner, businessman and industrialist from Mumbai, India. He was one of the signatory of ''Bombay Plan'', which was set of proposals for the post-independence economy of India. He along with GD Birla established Federation of Indian Chambers of Commerce & Industry in 1927 on the advice of Mahatma Gandhi Mohandas Karamchand Gandhi (; ; 2 October 1869 – 30 January 1948), popularly known as Mahatma Gandhi, was an Indian lawyer, anti-colonial nationalist Quote: "... marks Gandhi as a hybrid cosmopolitan figure who transformed ... anti- .... He was a member of the Hilton Young Commission.He was a member of the Acworth Committee. He headed the Foodgrain Policy Committee of 1947. References Gujarati people Businesspeople from Mumbai Gujaratis from Mumbai Indian Knights Bachelor Companions of the Order of the Indian Empire Members of the Order of the British Empire Indian Knights C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kasturbhai Lalbhai
Kasturbhai Lalbhai (19 December 1894 – 20 January 1980) was an Indian industrialist and philanthropist. He co-founded the Arvind Mills along with his brothers and several other institutes. He was a cofounder of the Ahmadabad Education Society which initiated Ahmedabad University and the Indian Institute of Management Ahmedabad. He served as the chairman of historic and influential Anandji Kalyanji Trust that manages Shatrunjaya and several other Jain pilgrimage centers, for 50 years. Family Kasturbhai belonged to the family of ''Nagarsheth'' (city chief) of Ahmedabad, recognized by the Mughals, Marathas and the English during different times. He was the descendant of Shantidas Jhaveri, a royal jeweler of Akbar and an Oswal Jain from the Marwar region. Khushalchand (1680–1748), the grandson of Shantidas paid ransom to the Marathas to save Ahmedabad from plunder in 1725. Khushalchand's son Vakhatchand (1740–1814) was also a noted businessman. His grandfather Dalpatbhai Bhagu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Import Substitution Industrialization
Import substitution industrialization (ISI) is a trade and economic policy that advocates replacing foreign imports with domestic production.''A Comprehensive Dictionary of Economics'' p.88, ed. Nelson Brian 2009. It is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products. The term primarily refers to 20th-century development economics policies, but it has been advocated since the 18th century by economists such as Friedrich ListMehmet, Ozay (1999). ''Westernizing the Third World: The Eurocentricity of Economic Development.'' London: Routledge. and Alexander Hamilton.Chang, Ha-Joon (2002). ''Kicking Away the Ladder: Development Strategy in Historical Perspective.'' London: Anthem Press. ISI policies have been enacted by developing countries with the intention of producing development and self-sufficiency by the creation of an internal market. The state leads economic development by nationalizat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lala Shri Ram
Sir Shri Ram (also Lala Shri Ram; 27 April 1884 – 11 January 1963) was an Indian industrialist and philanthropist. He was the son of Rai Bahadur Ram Kishen Das Gurwale, the founder of the Delhi Cloth & General Mills, which remains one of the oldest firms in India today. Early life Sir Shri Ram was born on April 27, 1884. First son of Madan Mohan Lal and Chando Devi. He belonged to an Agarwal family of Haryana. Sir Shri Ram got most of his early education from a Municipal Primary School in Bazaar Sita Ram. He matriculated in March, 1900 and later got himself enrolled for the Intermediate Arts course at Hindu College. Sir Shri Ram began as a humble worker and went on to set up one of India's largest business houses - the DCM Group. Born into a family of modest means, Shri Ram, in the 79 years of his life, built an industrial empire manufacturing a vast variety of goods like - textiles, sugar, chemicals, vanaspati, pottery, fans, sewing machines, electric motors and capacitors ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ardeshir Dalal
Sir Ardeshir Dalal, KCIE (24 April 1884 – 8 October 1949) was an Indian Parsi civil servant, and later, a businessman associated with the Tata Group. He was knighted in 1946, and was a vocal opponent of the partition of India. Biography Dalal was born on 24 April 1884 in Bombay to Rustomjee Dalal, who worked as share-broker. He studied at Elphinstone College in Mumbai, and In 1905 he applied for J. N. Tata Scholarship for higher studies. He received the scholarship, and studied at St. John's College Cambridge. Following this, he qualified by examination to enter the Indian Civil Service, joining in 1908. Career Dalal was initially appointed as a district collector, and served in several districts, eventually serving as deputy secretary to the government of the State of Bombay, and serving as a member of the Provincial Legislative Council in 1923. In 1928, he became the first Indian to serve as Municipal Commissioner of Bombay, serving in that role for three years. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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