PRIME MOVING FORCE : AGRICULTURE VS. INDUSTRY :
Almost no presence of infrastructure sector, i.e., power, transportation and communication. Negligible presence of the infrastructure industries, i.e., iron and steel, cement, coal, crude oil, oil refining and electricity.
(i) Lack of investible capital—either by the government or the
(ii) Absence of required technology to support the process of industrialisation and no research and development.
(iii) Lack of skilled manpower.
(iv) Absence of entrepreneurship among the people
(v) Absence of a market for industrial goods.
(vi) Many other socio-psychological factors which acted as negative forces for the proper industrialisation of the economy.
PLANNED AND MIXED ECONOMY
EMPHASIS ON THE PUBLIC SECTOR