Advertisements
Advertisements
प्रश्न
Explain ‘growth with equity’ as a planning objective.
उत्तर
Both growth and equity are the two important aspects of India’s five year plans. While growth refers to the increase in GDP over a long period of time equity refers to an equitable distribution of GDP so that the benefits due to higher economic growth are shared by all sections of population. Equity implies social justice. Growth itself is desirable but growth in itself does not guarantee the welfare of people. Growth is assessed by the market value of goods and services (GDP) and it may be possible that the goods and services that are produced may not benefit the majority of population. In other words, only a few with high level of living and money income may get the share of GDP. Hence, growth with equity is a rational and desirable objective of planning. This objective ensures that the benefits of high growth are shared by all the people equally and, hence, this not only leads to reduction of inequality of income, poverty promotion of egalitarian society but also enables everyone to be self-reliant. Therefore, to conclude, it can be said that growth with equity is the most important objective of an economic planning.
APPEARS IN
संबंधित प्रश्न
Which projects were started in the 2nd five-year plan?
Why was it necessary for a developing country like India to follow self-reliance as a planning objective?
First time the objective of self-reliance was incorporated in the ______ Five year plan.
The new agricultural strategy was adopted in India during the ______.
Gross Domestic Savings as a proportion of GDP has risen from ______ in 1950-51 to ______ percent in 1990-91.
In the calendar of planning, there are annual plans which are given below except ______.
Who presented the first five year plan?
Read the following hypothetical text and answer the given questions:
The performance of Indian economy during the period of first seven five year plans (1950-1990) was satisfactory if not very impressive. On the eve of independence, India was an industrially backward country, but during this period of first seven plans our industries became far more diversified, with the stress being laid on the public investments in the industrial sector. The policy of import substitution led to protection of the domestic industries against the foreign producers but we failed to promote a strong export surplus. Although public sector expanded to a large extent but it could not bring desired level of improvement in the secondary sector. Excessive government regulations prevented the natural trajectory of growth of entrepreneurship as there was no competition, no innovation and no modernization on the front of the industrial sector. Many Public Sector Undertakings (PSU’s) incurred huge losses due to operational inefficiencies, red-tapism, poor technology and other similar reasons. These PSU’s continued to function because it was difficult to close a government undertaking even it is a drain on country’s limited resources. On the Agricultural front, due to the measures taken under the Green Revolution, India more or less became self-sufficient in the production of food grains. So the needs for reform of economic policy was widely felt in the context of changing global economic scenario to achieve desired growth in the country.
Inward looking trade strategy aimed at ______.
Read the following hypothetical text and answer the given question:
The performance of Indian economy during the period of first seven five year plans (1950-1990) was satisfactory if not very impressive. On the eve of independence, India was an industrially backward country, but during this period of first seven plans our industries became far more diversified, with the stress being laid on the public investments in the industrial sector. The policy of import substitution led to protection of the domestic industries against the foreign producers but we failed to promote a strong export surplus. Although public sector expanded to a large extent but it could not bring desired level of improvement in the secondary sector. Excessive government regulations prevented the natural trajectory of growth of entrepreneurship as there was no competition, no innovation and no modernization on the front of the industrial sector. Many Public Sector Undertakings (PSU’s) incurred huge losses due to operational inefficiencies, red-tapism, poor technology and other similar reasons. These PSU’s continued to function because it was difficult to close a government undertaking even it is a drain on country’s limited resources. On the Agricultural front, due to the measures taken under the Green Revolution, India more or less became self-sufficient in the production of food grains. So the needs for reform of economic policy was widely felt in the context of changing global economic scenario to achieve desired growth in the country.
Read the following statements - Assertion (A) and Reason (R)
Assertion (A): Many public sector undertakings incurred huge losses due to operational inefficiencies.
Reason (R): Red-tapism was one of the reasons for continuation of such enterprises.
Select the correct alternative from the following:
What are the important aspects of India's five-year plans?
During the period of planning the average growth rate of agricultural produce was ______
Which Five Year Plan recognised the importance of human capital?
SHG's ______
______ is known as the architect of Indian Planning.
Statement 1: First Five Year Plan of China commenced in the Year 1956.
Statement 2: Both India and China adopted Socialist Economy model, following USSR.
In the light of the given statements, choose the correct alternative:
