Write some of the achievements and failures of economic planning in India?
Answers
Like a moon with both faces, India not only faced some struggles but achieved a lot through the economic planning
Pros:
(a) It is mainly focused to make rapid development in the economy in all sectors.
(b) Targeted to improve the GDP rate to 2% per annum.
(c) Develop the economic infrastructure by making industrialization which develops the infrastructure such as roadways, transportation, energies, and communications.
(d) Improvise the investments done in the economy
Cons:
(a) Economic Inequality and Social Injustice
(b) Failure in employment generation
(c) Regional Imbalance.
Answer: Abject poverty- Alleviation of poverty was the central theme of planning but this is where we stand In India 21.9 percent of population still lives below the poverty line these are those people who are not getting even the essentials of life. Amazingly nearly 50 percent of those who are absolutely poor in the world are living in India.
Inadequate infrastructure- development of infrastructure continues to be inadequate despite 67 years of planning
Explanation: