Question

Explain modernistation and self reliance as planning

Answer 1

Answer:

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The goals of Five Year plans are growth, modernisation, self-reliance and equity. Growth: It refers to an increase in the countries' capacity to produce the output of goods and services within the economy. The right indication for growth of an economy is steady increase in the Gross Domestic Product (GDP).

Answer 2

Explanation:

• Answer: A country can achieve economic growth and modernization by using its own resources or by using resources imported from other countries.
• Self-reliance means avoiding imports of those goods which could be produced in domestically.