A Brief Memorandum Outlining a Plan of Economic Development for India, commonly known as the Bombay Plan, was published in 1944. It was an effort at post-war reconstruction and post-independence economic development in India. J. R. D. Tata, Ghanshyam Das Birla, Ardeshir Darabshaw Shroff, and John Mathai were among the influential businesspeople and economists who formulated the plan.

The central goal of the plan was poverty alleviation. It called for a greater role of the state in promoting economic growth and development, proposing four key measures:

(1) Industrialization. The plan called for centrally planned production and a rapid expansion of the industrial sector, with a focus on heavy industries such as steel, machinery, and chemicals.

(2) Infrastructure. The plan proposed massive investment in infrastructure, including transport networks and power-generation and irrigation systems.

(3) Agriculture. The plan estimated that within ten years, agricultural production would increase by 400 percent and industrial production by 600 percent. It urged agricultural reforms, including the introduction of modern farming techniques and the expansion of irrigation.

(4) Social welfare. The plan proposed establishing a comprehensive social welfare system, including health care, education, and housing programs.

The Bombay Plan represented a break from the prevailing economic orthodoxy in India, which favored a laissez-faire approach to development. Yet it faced criticisms for not being radical enough. It had a lasting impact on India’s economic policies and helped to shape the country’s development trajectory after independence.