"Let me say that I think the economic history of the last 150 years clearly shows that if you want to industrialize a country in a short period, let us say 20 years, and you don't have a well-developed private sector, entrepreneurial class, then central planning is important"
- Manmohan Singh
About this Quote
Manmohan Singh's quote suggests that central planning is a crucial factor in the industrialization of a nation in a short time period, such as 20 years. He thinks that if a nation does not have a well-developed private sector and entrepreneurial class, then main preparation is essential. This is supported by the financial history of the last 150 years, which has actually revealed that central planning is a reliable way to industrialize a nation quickly. Central preparation involves the federal government taking a more active function in the economy, such as setting production objectives, designating resources, and controlling prices. This can help a country to rapidly establish its industry and facilities, which is vital for financial growth. For That Reason, Manmohan Singh's quote suggests that main preparation is an important factor in the industrialization of a country in a brief period of time.
This quote is written / told by Manmohan Singh somewhere between September 26, 1932 and today. He/she was a famous Statesman from India.
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