After a prolonged period of debate and discussion, the First Soviet Plan commenced in 1928 for a period of five years. But the world outside was not fully known to the modus operandi of development planning till the 1930s. It was the exodus1 of the east European economists to Britain and the United States in 1920s and 1930s that made the world aware as to what economic/national planning was all about.The whole lot of colonial world and the democracies of the time were fascinated by the idea of planning as an instrument of economic progress. The nationalist leaders with socialistic inclination of the erstwhile British colonies were more influenced by the idea of economic planning. The whole decade of 1930s is the period in the Indian history when we see nationalists, capitalists, socialists, democrats and academicians advocating for the need of economic planning in India at one point or another.2 Independent India was thus destined to be a planned economy. The economic history of India is nothing but the history of planning3 .
What do You think about Indian Economy, 5th Edition?
