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Answer» Pandit Deendayal’s views on decentralized economy: - In capitalist and socialist system of governance there exists centralized authority and control over assets. This restricts the overall human development.
- So, Pandit Deendayal suggested that the state should adopt a decentralized economic set up which promotes overall development and increases interaction among people.
- He suggested that the state can decentralize its power by allowing people to decide how much to produce, distribute and consume.
- the producer of commodities will only have control over production and distribution so that he can prevent wasteful consumption. This will save national resources which can be then further used in production.
- He believed that decentralization of economic power can help in solving the major problems of Indian economy.
- He also emphasized on developing cottage and small industries.
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