Popular News From Popular Sites: India's Modi ends an era of socialist-style planning

Friday, August 15, 2014

India's Modi ends an era of socialist-style planning

By Douglas Busvine NEW DELHI (Reuters) - India's national Planning Commission certainly tried to present a modern image, with a Twitter profile that promised "Faster, More Inclusive and Sustainable Growth". "Times have changed since the Planning Commission was created," Modi said on Friday, in a speech to mark India's liberation from British colonial rule. A new institution would be set up "in a short span of time", added the 63-year-old leader, who swept to power in a general election in May. Wearing a white kurta tunic and saffron turban, Modi spoke from the ramparts of the 17th-century Red Fort in old Delhi, continuing a tradition begun by independent India's first prime minister, Jawaharlal Nehru. It was Nehru, a socialist who admired Josef Stalin's drive to industrialize the Soviet Union, who in 1950 set up - and chaired - the Planning Commission to map out a development path for India's agrarian economy. Read More http://ift.tt/1uA2XIz

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