Third Meeting of the Standing Committee of the National Development Council New Delhi, July 1955

Abstract

Opening the discussion, the Chairman said that the main subject for consideration at the meeting was the question of resources for the Second Five Year Plan. It appeared that the provision required for financing the proposals drawn up by the State Governments and the Central Ministries would be over Rs. 10,000 crores, whereas the resources at our disposal amounted to about Rs. 3,500 crores. In the draft plan-frame it was contemplated that, in the public sector, the total expenditure would be about Rs. 4,300 crores. It had been calculated that for achieving a 5 per cent increase in national income every year, a larger investment would be needed The Chairman, therefore, requested Chief Ministers to give earnest thought to the question of adding to the resources for the Second Five Year Plan.