The Relevance of Religion in a Socialist Economy- India at a Glance
Socialism has been defined as a political and economic structure which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole. In Indian context ,after independence ,the the structure of development laid out by Jawaharlal Nehru and his team ,foremost among whom was Statistician Prasanta Chandra Mahalanobis , had the structure of socialist economy with special emphasis on heavy industries and power projects. The whole design was laid down with the planning commission in the helm. Jawaharlal Nehru was thought of as the socialist or left- inclined political persona for his basic political ideology. It was considered that without the supervision of the state, the economy cannot function optimally securing welfare for the masses. This whole arrangement began to change gradually after 1991 Liberalization period. The step by step privatization and opening up of the economy and the relaxation of licenses connected I...