Question

Q.4. Answer the Following:
1) Explain the features of Economic Planning.
​

Answer 1

Explanation:

Central Planning Authority:

The existence of a central planning authority is another feature of economic planning. This central planning authority is responsible to prepare different schemes of development and coordinating the various activities. The central planning authority takes all decisions relating to production and consumption in an economy.

Democratic Character:

Another pioneer feature is its democratic nature. No doubt, various plans are prepared by experts but at the same time, adequate opportunities are provided to the people to actively participate at various levels. Being federal structure of Indian Constitution, the Union Government only uses its fiscal, monetary and physical controls to guide and give direction in consequence with the five year plans.