Who among the following Indian capitalist was not the architect of “Bombay Plan” ?
Dhirubhai Ambani
Dhirubhai Ambani had nothing to do with the Bombay Plan — option 1. He was born in 1932 and was a boy of twelve when the Plan was published, founding Reliance only in the 1960s. Chronology alone settles the question.
What the Bombay Plan was. Published in 1944-45 as A Plan of Economic Development for India, it was drawn up by eight of the country’s leading industrialists and economists :
| Signatory | Note |
|---|---|
| J. R. D. Tata | Head of the Tata group |
| G. D. Birla | Head of the Birla group |
| Lala Shri Ram | Of DCM |
| Purshottamdas Thakurdas | Cotton merchant and financier |
| Kasturbhai Lalbhai | Ahmedabad textile magnate |
| Ardeshir Dalal | Of Tatas, later Member for Planning in the Viceroy’s Council |
| A. D. Shroff | Financier |
| John Mathai | Economist, later Finance Minister of India |
What it proposed. The Plan set the striking target of doubling per capita income within fifteen years and trebling national income, with an outlay of about ₹ 10,000 crore. Its most remarkable feature is that a group of private capitalists argued for a large role for the state: public investment in heavy industry, power and transport, since these needed capital far beyond what private industry could raise and would take too long to earn a return; controls on prices and distribution; deficit financing; and land reform. Private enterprise was to concentrate on consumer goods.
Its influence. Much of this reasoning passed into the Industrial Policy Resolutions of 1948 and 1956 and into the mixed economy of the Nehru years, and the Plan is often cited to show that Indian business itself, and not only the political leadership, favoured state-led industrialisation at independence.
Hence, the answer is Dhirubhai Ambani.
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