Wind It Up

The reasons are many. First, Indias economic progress has been painfully slow in contrast to East Asian countries. Second, the Soviet Union, which was perhaps one of the most planned economies, went bankrupt. Third, none of the countries which have achieved economic miracles have formal planning. Fourth, planned economies of central and eastern Europe have abandoned planning.

The Planning Commission should be replaced by various central ministries appointing one or more autonomous or private institutions to guide and give their independent views. The proposals of the ministries could be co-ordinated by the ministry of economic affairs.