Plan Formulation and Implementation in India! In India, achievement of growth did not ensure full development nor did it lead to removal of poverty—which have consistently been the goals of economic planning. Mainly due to implementation failure there was more unemployment at the end than at the beginning of each Five Year Plan. The consequence of continuing unemployment was a [...]
In this article we will discuss about the importance and objectives of planning in an economy. Economic planning is often regarded as technique of managing an economy. When the structure of an economy becomes complex and subject to rapid change and transformation (due to population growth, discovery of resources, industrialisation, etc.) some sort of advance thinking becomes necessary to resolve [...]
In this article we will discuss about the economic plans in India. Visvesvaraya's Plan: The engineer-Statesman, Shri Visvesaraya, was the first to advocate the idea of planning for India. In his famous book, "The Planned Economy For India", published in 1934, he proposed a ten-years' plan with the aim of doubling the income of the country. His main emphasis was [...]