Tag: objectives of economic planning in india

The things,which the GoI did in the name of following planning more inclined towards being 'indicative' was called 'rolling back' of the State (this is a word used by the 'critics ' of the government policy). The 'strategic disinvestment ' was part of it.

Governing Council does not only includes the CMs of states and Lt. Governors/ Chief Administrators of the UTs but it plays a more organic role in the decision making process of the Niti Aayog. Once the centrally sponsored schemes (CSSs1 have been restructured and high flexibility given to the states in their implementation the TPP looks an outdated programme.

The National Development Council or Rashtriya Vikas Parishad is the apex body for decision creating and deliberations on development matters in India, presided over by the Prime Minister

India after becoming independent, planning commission was introduced on 15 March 1950 by Indian government to improve standards of living of people who were deprived for centuries. First chairman of planning commission in India was Jawaharlal Nehru as he was the Prime Minister then.

The author of 'Planned Economy for India' is M. Visveswaraiah.
Mokshagundam Visvesvaraya, KCIE was an Indian engineer, scholar, statesman and the Diwan of Mysore from 1912 to 1918. He is a recipient of the Indian Republic's highest honour, the Bharat Ratna, in 1955. He was knighted as a Knight Commander of the British Indian Empire (KCIE) by King George V for his contributions to the public good. 15 September is celebrated as Engineer's Day in India in his memory. He is held in high regard as a pre-eminent engineer of India. He was the chief engineer responsible for the construction of the Krishna Raja Sagara dam in Mysore as well as the chief designer of the flood protection system for the city of Hyderabad.

After India achieved Independence, a formal model of planning was adopted, and accordingly the Planning Commission, reporting directly to the Prime Minister of India, was established on 15 March 1950.

Economic planning is a term used to describe the long term plans of an incumbent government to manage the economy. Economic planning is a common feature of big government and usually dictates increased spending and deficits to fund government programs and public works projects. During the 20th century, in order to achieve faster economic development, many countries adopted economic planning.

Welfare states is a concept of government in which the state plays a key role in the protection and promotion of the economic and social well-being of its citizens. A welfare state is based on the principles of equality of opportunity, equitable distribution of wealth and public responsibility for those unable to avail themselves of the minimal provisions of a good life. Under this system, the welfare of its citizens is the responsibility of the state.

Economic fluctuations are simply fluctuations in the level of the national income of a country representing growth or contraction. A market economy is not static. It's dynamic. A rise in national income means an economy is growing, while a decline in national income means that an economy is contracting.

The tertiary sector of the economy is the service industry. This sector provides services to the general population and to businesses. Activities associated with this sector include retail and wholesale sales, transportation and distribution, entertainment (movies, television, radio, music, etc.), restaurants, clerical services, media, tourism, insurance, banking, healthcare, and law. In most developed and developing countries, a growing proportion of workers are devoted to the tertiary sector.