what are the objective of long period goals under :- GDP GROWTH, FULL EMPLOYMENT, EQUITY, MODERNISATION, SELF SUFFICIENCY
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Long-term Objectives:
Economic Growth-
Achievement of economic growth is the main motive of planning. Economic growth can be measured in terms of rate of growth of GDP or GNP. Higher rate of economic growth creates multiplier effect which will further improve the economic growth indicators. Each five year plan sets a target to achieve growth in terms of increase in GDP.
Full Employment-
Rampant unemployment is a serious issue in India. Provision of full employment is a long-term objective of planning in India. For the first time Sixth five year plan accorded the priority status for employment.
Equity and Social Justice-
The fruits of economic growth should benefit large sections of the society. Development of few sections of the society will lead to the inequality in society. Indian planning should aim at reducing such inequalities, so that the benefits of economic development percolate down to the lower strata of the society.
Modernisation-
Modernisation means updation of technical know-how and adoption of new technologies for betterment of the society. Productivity of the economy can be raised many-fold with the use of innovative and modern technology. Green Revolution and IT revolution are best examples of how technology can transform a country. Modernisation also includes issues like empowerment of women.
Self-sufficiency-
Self-sufficiency means dependence on domestically produced goods, particularly foodgrains. The basic idea was not to expose India’s fragile economy to political diktats of rest of the world as it happened in 1965 when U.S.A., threatened to stop exports of foodgrains to India unless the latter stopped the then war with Pakistan.
(I have written all important points,if you wanna make it short.u can make it. Hope it helps uh)
Economic Growth-
Achievement of economic growth is the main motive of planning. Economic growth can be measured in terms of rate of growth of GDP or GNP. Higher rate of economic growth creates multiplier effect which will further improve the economic growth indicators. Each five year plan sets a target to achieve growth in terms of increase in GDP.
Full Employment-
Rampant unemployment is a serious issue in India. Provision of full employment is a long-term objective of planning in India. For the first time Sixth five year plan accorded the priority status for employment.
Equity and Social Justice-
The fruits of economic growth should benefit large sections of the society. Development of few sections of the society will lead to the inequality in society. Indian planning should aim at reducing such inequalities, so that the benefits of economic development percolate down to the lower strata of the society.
Modernisation-
Modernisation means updation of technical know-how and adoption of new technologies for betterment of the society. Productivity of the economy can be raised many-fold with the use of innovative and modern technology. Green Revolution and IT revolution are best examples of how technology can transform a country. Modernisation also includes issues like empowerment of women.
Self-sufficiency-
Self-sufficiency means dependence on domestically produced goods, particularly foodgrains. The basic idea was not to expose India’s fragile economy to political diktats of rest of the world as it happened in 1965 when U.S.A., threatened to stop exports of foodgrains to India unless the latter stopped the then war with Pakistan.
(I have written all important points,if you wanna make it short.u can make it. Hope it helps uh)
killermiss8:
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