Economic planning in india. LS2445: Explain the objectives of economic planning in India. Discuss the achievements of economic planning in our country in the light of these objectives. 2019-02-15

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The future of economic planning in India

economic planning in india

The total amount allocated under the Second Five-Year Plan in India was Rs. The government had taken steps to rehabilitate the landless workers, whose main occupation was agriculture. Five Year Plans India have not only failed to attain the sectoral plan targets but also in attaining the targets in overall economic growth rate. Wherever necessary, efforts be made for technology transfer or the import of improved technology for the productive sectors. More lines were added in the north east. Fifth Plan also emphasised the need for import substitution and export promotion for attaining economic self-reliance.

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Economic Planning in India

economic planning in india

Thus core strategy adopted the planners in India in subsequent three plans, i. This plan was again rejected by the government in 1980 and a new Sixth Plan was made. Three-year action plan is document only provides a broad roadmap to the government. . First, it needs to be realised that investment planning in its pristine sense has not existed in India at least for the last thirty years, when the dilution and eventual dismantling of the industrial licensing regime was initiated.

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Economic planning in india ppt

economic planning in india

Raising agriculture output to 4 per cent. Whatever be the criticism of Indian planning, it cannot be accused of being either static or unimaginative. From 1947 to 2017, the was premised on the concept of. Its duration was from 1980 to 1985. The only Five-Year Plan which was done twice.

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Economic Planning in India

economic planning in india

It was constituted to build co — operation between the States and the Planning Commission for economic planning. Therefore, the planners have tried to stabilize the economy by properly controlling the rising trend of the price level. It is possible in two ways, one is to reduce the poverty of the poorest section of the society and the other is to reduce the inequalities of wealth and income. This was carried through the Five-Year Plans, developed, executed, and monitored by the 1951-2014 and the 2015-2017. For instance, a body like the Planning Commission is required in order to address the national objectives of poverty alleviation, population control, employment generation and balanced regional development in a holistic manner. The main target of this plan was to make the economy independent and to reach self active position of take off.

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The future of economic planning in India

economic planning in india

The economy, which makes efforts to achieve development through economic plans, is known as planned economy. There is no other agency that is better equipped to play this role. People should be motivated to involve themselves and co-operate with the government machinery implementing all plan projects. In a controlled or directed economy, it is only necessary to work out a feasible path from the initial condition to the target. Although India achieved self-sufficiency in respect of food-grains but it has not yet achieved self- sufficiency in respect of edible oil. Its growth rate target is 8%.

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Economic Planning in India : Introduction, Achievements and Failures

economic planning in india

It sometimes comes as a surprise to people abroad that India continues to preserve planning as a central pillar of its development strategy despite having had a vibrant market economy for many years now. The Five-Year Plans have highlighted four aspects of social justice. Such an analysis focuses attention on the sectors which require policy change in order to achieve the desired targets. The plan also focused on in agricultural production and defence. Much of the criticism is misinformed, since it represents not a criticism of planning as such, but either of its ideological underpinning or of the success it has achieved in India. Planning without an objective is like driving without any destination.

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List of all Five Year Plans of India

economic planning in india

The focus was mainly on heavy industries. Sixth Plan categorically mentioned this objective of modernisation for the first time. The Niti Aayog, which has replaced the Planning Commission, is launching a three-year action plan from April 1, 2017. There are generally two sets of objectives for planning, namely the short-term objectives and the long-term objectives. The target growth rate was 5. The incremental capital ratio is 4.


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Economic Planning in India : Introduction, Achievements and Failures

economic planning in india

Objectives The main objective of the Ninth Five-Year Plan was to correct historical inequalities and increase the economic growth in the country. This is generally simply not correct. Before independence, it was first initiated in India in 1938 by Netaji Subhashchandra Bose. Problems faced by backward areas of the country should get due emphasis. Moreover, the agricultural operation continues to be a gamble in monsoon as a result of poor development of irrigation and flood control facilities.

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Need for Economic Planning in India

economic planning in india

Implementation of plan projects and programmes are made by the executive administrative officers of various government departments. After attainment of independence, the planners and policy makers tried to modernize the economy by changing the structural and institutional set up of the country. To develop India the plan should be made to develop the rural regions which should include development plans for all the sectors influencing the region. The goal of socialistic pattern of society was set in the second plan mainly to achieve this objective. Various countries of the world have already experienced the successful implementation of economic planning in the mean time. Both the agriculture and industrial sectors have failed to attain the required growth rates consistently. It was made for the duration of 1961 to 1966.

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