Explain the significance of economic planning in india?
Answers
Answer:
An important aim of economic planning in India is to better utilise the available human resources of the country by increasing the employment levels. And pls mark me as brainliest!!
Answer:
The term economic planning is used to describe the long term plans of the government of India to develop and coordinate the economy with efficient utilization of resources. Economic planning in India started after independence in the year 1950 when it was deemed necessary for economic growth and development of the nation.
List of Five Year Plans in India-
Long term objectives of Five Year Plans in India are:
High Growth rate to improve the living standard of the residents of India.
Economic stability for prosperity.
Self-reliant economy.
Social justice and reducing the inequalities.
Modernization of the economy.
The idea of economic planning for five years was taken from the Soviet Union under the socialist influence of first Prime Minister Pt. Jawahar Lal Nehru.
The first eight five year plans in India emphasised on growing the public sector with huge investments in heavy and basic industries, but since the launch of Ninth five year plan in 1997, attention has shifted towards making government a growth facilitator.