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Success and Failures of Economic Planning in India | Economics

India has completed about six decades (1951-2008) of planning. During the Plan Period it has achieved success in some directions and failed in other areas. So, India’s experience during the Plan Period presents a mixed picture. Here, we present a broad overview of the success and failure of planning. 1. Achievements of Planning: (i) Increase […]

Emerging Crises in Planning in India | Economic Planning | Economics

Quite recently various crises have been emerging in planning for a developing economy like India. These are the following: 1. Deceleration in Agricultural Growth 2. Income Disparities 3. Gaps in the Provision of Essential Public Services for the Poor 4. Infrastructural Deficiency 5. Shortage of Human Resource 6. Deterioration of the Physical Environment and a […]

What is Economic Planning?

Get the answer of: What is Economic Planning? The fundamental purpose of economic life is the satisfaction of human wants which are basically unlimited. All the economic activities of any modern society are directed towards satisfying human needs with limited (scarce) resources. The limitation of resources forces society to make choice and allocation. Economic resources […]

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