Definitions [1]
Definition: Economic Planning
- Dr H. D. Dickinson:
"Economic planning is when a central authority makes important decisions about what goods and services to produce, how much to produce, how, when, and where to produce them, and who will receive them, all based on a detailed survey of the country's needs." - Mrs Barbara Wooten:
"Planning means consciously and deliberately deciding economic priorities by a public authority."
Key Points
Key Points: Five Year Plans
- India adopted the Five Year Plan model from the USSR (Russia); the Planning Commission was established in 1950 under Jawaharlal Nehru.
- The main aims were agricultural & industrial development, employment generation, poverty reduction, and self-reliance.
- The four goals of planning were Growth, Modernisation, Self-reliance, and Equity.
- The First Plan focused on agriculture, while the Second Plan focused on heavy industries under the Mahalanobis Model.
- Wars, famines, the oil crisis, and political instability affected the success of several plans.
- The Planning Commission was replaced by NITI Aayog (2015), and the Twelfth Plan (2012–17) was the last Five Year Plan.
Concepts [9]
- India’s Planning Commission
- Economic Planning in India
- Overview of the Bombay, People’s, and Gandhian Plans
- Features of Economic Planning
- Five Year Plans (FYP)
- 12th Five Year Plan (2012-2017)
- Levels of National Family Health Survey (NFHS)
- NITI Aayog (National Institution for Transforming India)
- Planning Commission VS NITI Aayog
