What measures did the government take to address economic problems in the country?

State control of certain industries, central planning, and reduced importance of the private sector

In order to solve economic problems of our country, the government took several steps including control by the State of certain industries , central planning and reduced importance of the private sector. The main objectives of India’s development plans were:
(a) Initiate rapid economic growth to raise the standard of living, reduce unemployment and poverty.
(b) Become self-reliant and set up a strong industrial base with emphasis on heavy and basic industries.
(c) Reduce inequalities of income and wealth.
(d) Adopt a socialist pattern of development — based on equality and prevent exploitation of man by man