two factors of failures of publication in the economic planning in india
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1. Rise in Prices:
Price stability has been one of the objectives of every five year plan in India. But almost all the plans witnessed considerable rise in price-level. In first plan, price level came down. In all other plans, the prices recorded a steep rise. Price level rose on average by 63 percent in second plan, 5.8% in third plan, 9% in fourth plan, 6.3% in fifth plan, 3.6 percent in Ninth plan and 4% in 2004-05.
2. Increase in unemployment:
During the period of five year plans, unemployment went on rising. At the end of first five year plan 53 lakh persons were unemployed. Their number rise to 349 in 2004-05. In the last 22 years employment opportunities have increase by 2.3 percent while the supply of labour has increased by 2.5% resulting in an increase in unemployment.
3. Slow Growth in Production Sector:In the five year plan, growth rate of production was slow in many sectors. Priority should have been given to the development of agriculture in all the plans, but it was not done. Capital intensive industries in urban areas were given precedence over small scale industries in the rural areas. In agriculture green revolution continues to be confined largely to wheat and rice crop.
4. Inequality in Distribution of Income and Wealth:
One of the main objectives of five year plans has been to minimise inequality in distribution of income and wealth. But the plan witnessed only increase in inequality. Rich Class becomes richer and poor class poorer. This inequality is found not only in industrial sector but in agriculture sector also. According to one estimate, 3 percent of household own roughly 50 percent of cultivable land.
In the five year plan, growth rate of production was slow in many sectors. Priority should have been given to the development of agriculture in all the plans, but it was not done. Capital intensive industries in urban areas were given precedence over small scale industries in the rural areas. In agriculture green revolution continues to be confined largely to wheat and rice crop.
4. Inequality in Distribution of Income and Wealth:
One of the main objectives of five year plans has been to minimise inequality in distribution of income and wealth. But the plan witnessed only increase in inequality. Rich Class becomes richer and poor class poorer. This inequality is found not only in industrial sector but in agriculture sector also. According to one estimate, 3 percent of household own roughly 50 percent of cultivable land.
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