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Economic planning in India

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Economic planning in India
  • 1 answers

Yogita Ingle 5 years, 3 months ago

The term economic planning is used to describe the long term plans of the government of India to develop and coordinate the economy with efficient utilization of resources. Economic planning in India started after independence in the year 1950, it was deemed necessary for economic growth and development of the nation.

Long term objectives of Five Year Plans in India are:

  • High Growth rate to improve the living standard of the residents of India.
  • Economic stability for prosperity.
  • Self-reliant economy.
  • Social justice and reducing the inequalities.
  • Modernization of the economy.
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