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’s Five-Year Plans aimed to balance growth, modernisation, self-reliance, and equity.
- Not every plan met its targets, but overall, they improved the economy, society, and infrastructure.
- The approach ended in 2017, now replaced by medium- and long-term visions under NITI Aayog.
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
