Explain the important causes responsible for the limited success and failure of Economic planning in India. Also explain achievements of economic planning in India.
Answers
Answer:
Increase in National Income
Five year plans are able to increase the nati income level form a stagnant position at t time of independence.
Increase in Per Capita Income
Increase in national income resulted increase of per capita income.
Increase in Rate of Capital Formation
Capital formation is a key factor of econom growth. It depends on saving and investme During Five Year Plans, there has been considerable increase in the rate of saving a investment. It was around 35% by 2010-11.
Growth of Agricultural Sector
Both crop productivity and crop producti have shown a substantial rise in India. From t net importer of foodgrains, India became n exporter.
Development of Industries
There has been a substantial improvement the capital goods industry including iron a steel, machinery, chemical fertilisers, etc.
Development of Economic Infrastructure
Five-year plans laid the foundation f development of economic infrastructure whi include transportation, power generatio communication etc.
Development of Social Infrastructure
Social infrastructure includes such services education, health facilities, etc. In this area al five year plans able to achieve desired success.
Other areas of achievements are in increas employment, modernisation of the society a achieving self-sufficiency.
Failures of Economic Planning
Following observations highlight failures planning in India:
No Substantial Increase in the Standard Living
Rise in Prices
Increase in Unemployment
Inadequate Increase in Production
Inadequate Development of Infrastructure
Inefficient Administration
High Capital Output Ratio
Answer:
In fluid dynamics, stagnation pressure (or pitot pressure) is the static pressure at a stagnation point in a fluid flow. At a stagnation point the fluid velocity is zero. In an incompressible flow, stagnation pressure is equal to the sum of the free-stream static pressure and the free-stream dynamic pressure.