46 SOCIAL SCIENTIST Patnaik, "An Explanatory Hypothesis on the Indian Industrial Stagnation", in A K Bagchi and N Banerjee (ed). Change and Choice in Indian Industry, Calcutta, K P Bagchi and Co, 1981. 7 See The Economic Times, February 3, 1976. 8 Ashok V Desai, Working Paper No 96, Centre for Development Studies, Trivandrnm. 9 Financial Express, April 14, 1983. APPENDIX FROM SELF-RELIANCE TO DEPENDENCE IN INDIA'S ECONOMIC DEVELOPMENT* THE PHASES OF THE TRANSITION Phase of Growth 1.1 1947-1956 : The Radical Nehru Era i) Industrial Policy Resolution, 1948, 1956 ii) Self-Reliance and Mixed Economy — Twin Goals iii) Import-Substiti^tion-Led Growth iv) Curbs on Foreign Capital 1.2 1957-1%4 : The Conservative Nehru Era i) Foreign Exchange Crisis, 1957-1958 ii) Concessions to Foreign Capital iii) Export Subsidies, Food Imports iv) China War — Military Aid fiom U S Phase of Stagnation 2.1 1965-1968 : The Interregnum i) Agricultural Crisis, 1965-1967 ii) Pakistan War, 1965 iii) Devaluation and Import Liberalisation iv) Decline of Central Government Power 2.2 1969-1973 : The Radical Indira Era i) 'Garibi Hatao'1, Bank Nationalisation ii) MRTP Act, FERA, Industrial Policy Resolution, 1970 iii) Reassertion of Self-Reliance and Mixed Economy iv) Ascendancy of Central Government Power 2.3 1974-1977 : The Conservative Indira Phase-1 i) Railway Strike, 1974 ii) Proclamation of Emergency, etc iii) Liberalisation of Economic Policy 2.4 1977-1980 : The Janata Interregnum i) Continuation of Liberal Economic Policy ii) Concessions to Landed Gentry iii) Reduction of Direct Taxes, Increase in Indirect Taxes and Administered Prices 2 5 1980 Onwards : The Conservative Indira Phase-11 i) Escalation of Liberalisation Policies ii) Delicensing of Several Industiies iii) Export-1.ed Growth Strategy (Alexander and Tandon Committee Reports) iv) Structural Adjustment Programme of IMF Where do we go from here?