Question

What are the objectives of economic planning in india?

Answer 1

Answer:

a) Economic Growth:

Attainment of higher rate of economic growth received topmost priority in almost all the Five Year Plans of the country. As the economy of the country was suffering from acute poverty thus by attaining a higher rate of economic growth eradication of poverty is possible and the standard of living of our people can be improved.

The First Plan envisaged a target of 11 per cent increase in national income against which 18 per cent growth in national income was achieved. The Second, Third and Fourth Plan envisaged targets for annual growth rate of 5 per cent. 5.6 per cent and 5.7 per cent respectively against which the achievements were 4 per cent, 2.6 per cent and 3.4 per cent respectively.Again the Fifth and Sixth Plan also proposed the annual growth rate of 4.37 per cent and 5.2 per cent against which the achievements were 5.0 per cent and 5.2 per cent respectively. The Seventh Plan also set the target of 5 per cent in respect of annual growth rate of national income.

The Eighth Plan and the Ninth Plan set the target of 5.6 per cent and 7.0 per cent annual growth rate of national income against which the achievements were 6.5 per cent and 5.4 per cent respectively. The Tenth and Eleventh Plan set the target of 8.0 per cent and 9.0 per cent in its annual average growth rate of GDP. Thus attaining higher rate of economic growth is found as a common objective for all the Five Year Plans of our country.b) Attaining Economic Equality and Social Justice:

Reduction of economic inequalities and eradication of poverty are the second group of objective of almost all the Five Year Plans of our country particularly since the Fourth Plan. Due to the faulty approach followed in the initial part of our planning, economic inequality widened and poverty became acute.(b) Attaining Economic Equality and Social Justice:

Reduction of economic inequalities and eradication of poverty are the second group of objective of almost all the Five Year Plans of our country particularly since the Fourth Plan. Due to the faulty approach followed in the initial part of our planning, economic inequality widened and poverty became acute.

b) Attaining Economic Equality and Social Justice:

Reduction of economic inequalities and eradication of poverty are the second group of objective of almost all the Five Year Plans of our country particularly since the Fourth Plan. Due to the faulty approach followed in the initial part of our planning, economic inequality widened and poverty became acute.Under such a situation, the Fifth Plan adopted the slogan of ‘Garibi Hatao’ for the first time. The Seventh Plan document shows that nearly 37.4 per cent of the total population of our country was lying below the poverty line and the plan aimed to reduce this percentage of 29.2 per cent by 1990.Thus to achieve the target, various poverty alleviation programmes like the National Rural Employment Programme (NREP), Composite Rural Training and Technology Centre (CRTTC), Crash Scheme for Rural Employment Programme (CSREP), Rural Landless Employment Guarantee Programme (RLEGP) etc. were introduced. But the performance of these programmes is not up to the satisfaction.

(c) Achieving Full Employment:

Five Year Plans of India gave importance on the subject to employment generation since the Third Plan. The generation of more employment opportunities was considered as an objective of both the Third and Fourth Plan of our country. But up to the Fourth Plan employment generation never received its due priority.

The Fifth Plan in its employment policy laid special emphasis in absorbing increments in labour force during this Fifth Plan Period. The Sixth Plan accorded much importance on the reduction of incidence on unemployment. It has been estimated that the employment will grow at the rate of 4.17 per cent per annum as against the annual growth of labour force at 2.54 per cent.

To achieve this target the major programmes which were introduced during this Plan were Integrated Rural Development Programme (IRDP), the National Rural Employment Programme (NREP), the Operation Flood II Dairy Development Project, schemes in the villages and small industries sector the national Scheme of Training Rural Youth for Self Employment (TRYSEM) and various other compjonents of the Minimum Needs Programme.d) Attaining Economic Self-Reliance:

One of the very important objectives of Indian Planning is to attain economic self-reliance. But this objective attained its importance only since the Fourth Plan, when the plan aimed at elimination of the import of food-grains under PL480. The Fifth Plan also laid much importance on the attainment of self-reliance.

Thus this plan aimed at achieving self-sufficiency in the production of food-grains, raw materials and other essential consumption goods. The Fifth Plan also emphasized the need for import substitution and export promotion for attaining economic self- reliance.