Question

The concept of Economic Planning in India is derived from ?
A. USA
B. UK
C. Australia
D. Russia

Answer 1

option d it is derived from Russia

Answer 2

The concept of Economic Planning in India is derived from Russia.

Option D.

Explanation:

Seeing the successful Russian experiment of planning, India launched its economic planning in 1951.

1. The main aim of economic planning is to achieve the target of economic improvement which is major for a developing country, like India.  

2. For the better usage of human resources and growing employment opportunities.

3. To ensure stability; to avoid any structural variance in the country.

4. To become independent in terms of industrial raw material and food grains.

5. To ensure regional development in a well-balanced manner

Economic Planning is an ordered and coordinated attempt to achieve definite objectives within a stable time frame through the best utilization of the community’s resources.