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During the second five year plan, why total exports were divided into 3 categories? |
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Answer» During the second five year plan, India began an extensive industrialization programme. For this, capital machinery and technology was to be imported. Foreign currency was limited. Hence, total import were classified into 3 categories in 1956- 57. In the first category, those items were included the import of which was prohibited. These items could not be imported. The second category included items whose import could only be done through government agencies. Third category included those items that could only be imported through Open General License. |
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