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The basis of Gandhian Economy is

The basis of Gandhian Economy is Correct Answer Khadi and Cottage Industries based growth

Concept:

Gandhian economy:​

  • This school of economic thought was based on the spiritual and socio-economic principles, laid by Mahatma Gandhi.
  • He found that western economic systems were unsustainable and devastating to the human spirits as they were based on the multiplication of needs.
  • Gandhi's model was aimed at fulfilment of needs, so this model contained elements of protectionism, nationalism, non-violence and rejection of class war in favour of socio-economic harmony.
  • Gandhiji worked to develop ways to fight India's extreme poverty, backwardness and socio-economic challenges.
  • Gandhi's campaign of swadeshi and non-cooperation was centred on principles of economic self-sufficiency.
Explanation:

Gandhiji's approach to small-scale and cottage industries:

  • In India, small-scale and cottage industries are the most important employment-providing sectors of the economy.
  • He laid stress on khadi, handloom, sericulture and handicrafts.
  • They play a very important role in:
    • Generation of job.
    • Expansion of small-scale sector and its share in industrial output.
    • Equitable distribution of national income.
    • Promotion to small entrepreneurs.
    • Less industrial disputes.
    • Small scale industries have larger employment potential, as compared to large industries.
Thus, the basis of the Gandhian Economy is Khadi and Cottage Industries-based growth.

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