What was the need to set up planning commission? Described its achievements?
Answers
Planning Commission set up in March in the year 1950 by Govt of India.
Basic Objective was to assess all available resources, augmenting deficient resources and formulate yearly and five yearly plans with the aim of improving the economic and social well-being of people.
The Commission was an institution of Govt. of India which formulated India's Five-Year Plans between other functions.
One basic objectives of economic planning in India is increase national and per capita incomes.
Results of economic planning and India’s national and per capita income rose, though not as rapidly as the Plans projected.
National income at 1999-2000 prices rises from Rs. 224,786 crores in 1950-51 to Rs. 3,114,452 crores in 2006-07.
Per capita income in general terms had increased at lower rate pointing the increase in real national income which had been resolved up by growing population.
In the same period PCI increased from Rs. 5,752 to Rs. 22,239 showing a CARG of 2.5%.
There are quite changes in the growth rates over the whole Plan Period.
India didn't achieve steady growth is indicated.