Question

" the achievement of indian industrial sector during the first seven plans are impressive indeed agree with the statement ? and give reason in support of your ans

Answer 1

Economic plan­ning in India aims at bringing about rapid eco­nomic development in all sectors. In other words, it aims at a higher growth rate.

India’s macroeconomic performance has been only moderately good in terms of GDP growth rates. The compound annual rate of growth stands at 4.4% at 1993-94 prices for the whole planning period (1950-51 to 1999-00). Compared to the pre­-plan period when she was caught in a low level equilibrium trap, growth acceleration during the last 50 years has been impressive indeed. How­ever that it is not yet clear as to how much of this acceleration has been due to the change in the world economic boom since World War II and how much due to India’s own planning efforts.