Explain the Objective of Economic Planning. [In India]...?
Answer:
Indian Planning Commission came into existence in the year 1950, under the chairmanship of the then Prime Minister “Pandit Jawaharlal Nehru”. Planning in India was launched as a “5 yearly” exercise. The objectives of planning are very important as it focuses on different projects to be undertaken on the basis of National priority. The objectives of planning can be divided into to different ways i.e. - Short term objectives and Long term Objectives.
1- Short term objectives are plans specific which implies objective of each plan period designed on the basis of the needs of particular year specified in the plan.
2- Long term objectives are not plan specific rather it deals with the common goals and aspirations of the planning commission. Long term objectives takes into account, economic welfare and social welfare side by side.
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