By Readers Material

Economic Planning in India

What is Economic Planning?

The primary objective of economic planning is to promote balanced and sustainable development, addressing issues such as poverty, unemployment, and inequality.

01

Increase in Per Capita Income

Economic plans aim to boost both national and per capita income by fostering growth in key sectors like agriculture and industry.

02

Mitigating Income Inequalitie

conomic planning seeks to address and minimize economic disparities. By doing so, it aims to prevent class conflicts resulting from unequal wealth distribution.

03

Price Stability

This involves preventing drastic fluctuations in prices and safeguarding the economy from the adverse impacts of both inflation and deflation.

04

Infrastructure Development

Planning initiatives prioritize the development of infrastructure, including transportation, communication, and energy sectors. 

05

Unemployment Challenge

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.

“Economic Planning in India - Meaning, Types, and Objective”