By Readers Material
The primary objective of economic planning is to promote balanced and sustainable development, addressing issues such as poverty, unemployment, and inequality.
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Economic plans aim to boost both national and per capita income by fostering growth in key sectors like agriculture and industry.
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conomic planning seeks to address and minimize economic disparities. By doing so, it aims to prevent class conflicts resulting from unequal wealth distribution.
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This involves preventing drastic fluctuations in prices and safeguarding the economy from the adverse impacts of both inflation and deflation.
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Planning initiatives prioritize the development of infrastructure, including transportation, communication, and energy sectors.
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The promotion of capital-intensive technology over labor-intensive methods has exacerbated the unemployment crisis, with registered unemployment soaring to 4.21 crore in December 2019.