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Opinion » This day, that year

Posted at: May 16, 2019, 6:31 AM; last updated: May 16, 2019, 6:31 AM (IST)

Prime Minister Justifies Foreign Aid.


NEW DELHI, May 15 (PTI)—The Prime Minister, Mrs. Indira Gandhi, refuted that the country’s Five Years Plans were financed with foreign aid and pointed out that only 8 per cent of the investment in the Fourth Plan would come from sources outside India. Replying to the marathon debate on the draft Fourth Five Year Plan in the Rajya Sabha today, she said foreign aid received during the Third Plan totalled up to only 25 per cent of the investment made during the period. The foreign aid component in earlier plans too was less than 15 per cent, a figure that some members had suggested. Foreign aid, she said, only supplemented India’s resources. “It is a stimulant. We are making tremendous efforts to stand on our own legs. We cannot do this all too suddenly.”


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