"Indian economy is a planned economy".?
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Q) what is planned economy?
ans. In a planned economy the State or Govt guides the planning process. It may be imperative or indicative planning. In Communist countries most of the economic activities are undertaken by the State and come under imperative planning. The private sector is almost non-existent in these countries. But in countries where factors of production like agriculture and industries are in private hands, the planning process adopted is indicative only. Here the economy is mixed, where both govt and private sectors exist simultaneously.
Q)does India is planned economy ?
ans. YES
Planning in India was adopted soon after independence, when First Five Year Plan was launched in 1951-1956. During this period emphasis was given on Agriculture and major River Valley Projects were undertaken such as Bhakra Nangal (Satlej), Hirakud (Mahanadi) and DVC (Damodar). This resulted in more irrigated land under food cultivation for which food production increased. Besides Hydro electricity production also increased. The First Plan was a major success as prices came down and prosperity of the Nation increased.
Q) what is planned economy?
ans. In a planned economy the State or Govt guides the planning process. It may be imperative or indicative planning. In Communist countries most of the economic activities are undertaken by the State and come under imperative planning. The private sector is almost non-existent in these countries. But in countries where factors of production like agriculture and industries are in private hands, the planning process adopted is indicative only. Here the economy is mixed, where both govt and private sectors exist simultaneously.
Q)does India is planned economy ?
ans. YES
Planning in India was adopted soon after independence, when First Five Year Plan was launched in 1951-1956. During this period emphasis was given on Agriculture and major River Valley Projects were undertaken such as Bhakra Nangal (Satlej), Hirakud (Mahanadi) and DVC (Damodar). This resulted in more irrigated land under food cultivation for which food production increased. Besides Hydro electricity production also increased. The First Plan was a major success as prices came down and prosperity of the Nation increased.
Anonymous:
thanx
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