MISCELLANEOUS

dated March 31, 1953: "For India to Grow"

Speaking at the 10th Ordinary General Meeting of the United Commercial Bank Ltd., Mr. G. D. Birla welcomed India's Five Year Plan, and said it showed evidence of the Government of India's earnestness in grappling with the problem of poverty. For India really to forge ahead, Mr. Birla said the following had to be recognised and acted upon: Prosperity of the people as a whole is a vital necessity. Hard work is the only way to attain prosperity. Since `capital' stands for resources and hard work, monetary system and policy must promote growth of capital. Economic growth in a democracy is not the responsibility of a few people at the top, but of all the people put together.

Since an economy largely based on agriculture supplying a large population cannot provide full employment or create prosperity, people must be shifted from primary, to secondary and tertiary occupations. The need to increase production so that, at the end of the Five Year Plan, the quantum of manufactured goods is at least four times that at its beginning. The need to go forward at the earliest to make our own capital goods manufacturing tools. Getting necessary technical knowledge and skills from abroad without standing on considerations of prestige. That, steel being the basis of all machine tools, India should produce at least 2 million more tons of it by 1956.

Concluding his address, Mr. Birla again stressed the need for hard work all-round, and declared, "I am confident that something big will really be attained by us in India in spite of all obstacles and hindrances. Only the will to work, and move fast, is necessary. It is only when the nation as a whole decides to march forward unflinchingly that it can progress. "

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