After Independence, India inherited shattered economy of having colonial features. Thus India had to start from a rudimentary economy. This brought planned development, as a tool for development which continued for the coming 50 years, after which depending on the changed scenario of world economy, development started taking the path of market led growth.
In the early first half of Independent India development had to be based on socioeconomic needs of the society. Socialistic pattern of development were chosen to follow as there was huge gap in the society based on economic and social disparity.
This could not be erased out without adopting socialistic pattern of development based planned economy largely under state control. Development based on industrialisation and other factor has to be based on region identification depending upon its level of backwardness, in order to bring overall Balanced regional development.
After this half century of planning, now with the comming of LPG era (Liberalisation, globalisation and privitisation) economy is largely led by legislature. In Prime Ministerial form of government, the PM is the head of the government who leads the government, takes all important decisions with the support of his ministers.
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Influence of the PM in running the Government depends on his or her party’s getting single majority and his personal caliber.
But the popularity of the Prime Ministerial from of government seems to be declining these decades, owing to lack of absolute majority to any party at the centre. They have to all with other parties to form the government. This weaken the position of the prime minister. He is not able to dominate or influence the Council of ministers and so the ministers works independently.
Emergence of various Regional parties are also the other reason of weakening of central government. As the Unstable government does not allow the PM to work independently.
Further 44th Amendment of the Constitution has made it mandatory for the PM to get advice of the Council of Ministers in writing, before advising the president for proclamation of Emergency.
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All these factors has led to decline the proper and effective functioning of Prime Ministerial government market forces. This has to openness of economy. Thus one company is working many countries based on market economy. Since, 1991, our economy has also following the norm of globalisation.
But yet in country like India, Our wide social goals cannot be achieved through a market led economy. We must industrialise and grow in the direction which spreads benefits to all classes and not just to higher and elite classes. We need to change direction of planning so that to allow market forces, capitalist powers and at the same time our Objectives to sustain in parallel manner.