Question

What is economic planning in Indian economy? ?​

Answer 1

Answer :

Economic Planning is a term used to describe the long term plans of government to co-ordinate and develop the economy with efficient use of resources. Economic planning in India was stared in 1950 after independence, it was deemed necessary for economic development and growth of the nation.

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Answer 2

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⎇ For the development of Indian economy, it was necessary for the Government to plan for the economy. Economic planning can be defined as making major economic decisions by the conscious decision of a determinate authority, on the basis of a comprehensive survey of the economy as a whole.