Indian Economy and Planning.
What is Economy Planning ??
Economic Planning means to make Economic Decisions. What is to be produced and how is that to be produced and where it has to be allocated. It is done by conscious decisions by a determinate authorities on the basis of public and economical surveys.
Economical problems in India like Inequality, Reservation, Industrial Production, Loss in Agricultural Production, Poverty and Unemployment can be easily solved by economic planning.
Following are the Characteristics of Economic Planning :
What is Economy Planning ??
Economic Planning means to make Economic Decisions. What is to be produced and how is that to be produced and where it has to be allocated. It is done by conscious decisions by a determinate authorities on the basis of public and economical surveys.
Economical problems in India like Inequality, Reservation, Industrial Production, Loss in Agricultural Production, Poverty and Unemployment can be easily solved by economic planning.
Following are the Characteristics of Economic Planning :
- To use of limited sources to produce maximum result, welfare and output.
- Best Targets to be achieved in the given or short period of time.
- Should have knowledge about economic resource of Nation and Country.
- Existence of Central Planning and independent authorities.
Main Reasons for Economy Planning in India :
Fast and Rapid Development in Economy of India.
Standards of Living Should be improved.
Poverty should be removed by :
Increasing employment opportunities of people.
Planned production of goods and resources and distributing it equally among people.
By removing Reservations to those who don't need it.
Fulfilling Basic needs like Food, Education, Residential Needs, social needs etc.
Income and resources should be distributed equal to the deserving.
Reorganizing Foreign Trade.
Maintaining the Investment-Income Ratio.
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