SELECT * FROM question_mgmt as q WHERE id=5768 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=2 AND subId=32 AND chapterId=243 and ex_no='1' AND status=1 ORDER BY CAST(question_no AS UNSIGNED) CBSE Free NCERT Solution of 11th economics-indian-economic-development Indian Economy 1950-1990 why was it necessary for a developing country like

Question:

Why was it necessary for a developing country like India to follow self-reliance as a planning objective?

Answer:

Self-reliance implies discouraging the imports of those goods that could be produced domestically. Achieving self-reliance is of prime importance for a developing country like India as otherwise, it would increase the country's dependence on foreign products. Dependence on foreign goods and services can promote economic growth of India but this would not contribute to the development of domestic productive resources. Dependence on foreign goods and services provides impetus to foreign country's industries at the cost of domestic infant industries. Further, imports drain away the scarce foreign reserves that are of prime importance to any developing and underdeveloped economy. Therefore, achieving self-reliance is an important objective for developing countries in order to avoid themselves from being acquiescent to the developed nations.


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