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21 August 2014, CCIFC

India PM axes Soviet-style economic planning body

Rajrishi Singhal, Senior Geoeconomics Fellow, Gateway House analyses how the Planning Commission was important after independence from Britain in building institutions and providing the country with a modicum of self-reliance, but the institution now appeared out of step with changing times

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ndia’s new right-wing premier Narendra Modi announced Friday an end to Soviet-style economic planning in an Independence Day speech as he pressed ahead with overhauling cumbersome government policymaking.

Modi said he was scrapping the Planning Commission — a relic of socialist policies put in place by India’s first prime minister, Jawaharlal Nehru, who was impressed by the former Soviet Union’s centralised planning and five-year economic blueprints.

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