explain two failures of economic planning in India
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Increase in prices :
Price stability has been one of the objectives of every five year plan in India. But almost all the plans resulted in rise in prices level. In first plan, price level came down. In all other plans, the prices rose.
Slow growth in production sector :
In the five year plan, growth rate of production was slow in many sectors. Importance should have been given to the development of agriculture in all the plans, but it was not done. In agriculture green revolution resulted in large cultivation of wheat and rice crop.
Price stability has been one of the objectives of every five year plan in India. But almost all the plans resulted in rise in prices level. In first plan, price level came down. In all other plans, the prices rose.
Slow growth in production sector :
In the five year plan, growth rate of production was slow in many sectors. Importance should have been given to the development of agriculture in all the plans, but it was not done. In agriculture green revolution resulted in large cultivation of wheat and rice crop.
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Answer: Abject poverty- alleviation of poverty was the central theme of planning but this is where we stand In India 21.9 percent of population still lives below the poverty line these are those people who are not getting even the essentials of life amazingly nearly 50 percent of those people who are absolutely poor in the world are living in India
High rate of inflation- by and large we have failed to tackle inflationary spiral in the country because of high rate of inflation during five year plan
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