Question

Why did India opt for planning?

Answer 1

at the time of indepence the India ecnomy was in the ist worst stage. The gdp national and par capita income were very low and the unemployment was very high the industrial growth well. The resources were very limited .So india opted for planning because it helps in sleeping out how the recus of a nation should be used efficiently and economically so that rate of economic growth can be accelerate .
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Answer 2

Answer:

1. Soon after independence, India faced an important choice to opt either for capitalism or socialism.
2. Finally, India, inspired by the extraordinary success of planning in Soviet Union, opted for socialism.
3. Although, Indian political and economic conditions were not as favourable as it was for Soviet Unions to opt for socialism, yet India adopted socialism but with a difference.
4. India hinged upon the socialist idea with a strong emphasis on public sector and active participation of the private sector in a democratic framework.
5. The Planning Commission (1950) was established with the motive that the government would undertake comprehensive planning for the nation as a whole, where public sector would lay down the basic economic framework and would encourage private sector for their active contribution to the economic growth.