ABSTRACT
The vision of the first alliance was to industrialize India. Yet during the first alliance, there was little improvement in agricultural productivity, and little progress toward the cooperativization of the rural economy that the state had called for. And the alliance failed to connect its project with the talents and aspirations of the overwhelming majority of the Indian people. The major social impediment to the elaboration of the first market culture was the weak industrial financing system that existed in India as of 1955. Heavy industry builds up production of basic raw materials producer goods and capital goods. The Ministry of Steel and Heavy Industry, not surprisingly, fully accepted the commitment to concentrate on steel and heavy industry. The year 1956 witnessed the culmination of an adaptive revolution in the Indian property regime. Conditions in India are favourable for securing the production of iron and steel at costs which are low in comparison with those of most other countries.
