A plan is an outline of how the resources of our country should be used for development. Plans can be general and specific in nature. There are many benefits of planning as plans minimise uncertainties and facilitates controlling.

A blueprint for allocating resources

A detailed guideline for investments

HARD

Earn 100

Discuss briefly the rationale behind choosing 'Modernisation' as a planning objective for the Indian Economy.

Important Questions on Indian Economy 1950-1990

MEDIUM

Economics>Indian Economy Post-independence>Indian Economy 1950-1990>Five Year Plans

Why is 'growth with equity' an important planning objective?

EASY

Economics>Indian Economy Post-independence>Indian Economy 1950-1990>Five Year Plans

Define Gross Domestic Product.

HARD

Economics>Indian Economy Post-independence>Indian Economy 1950-1990>Five Year Plans

Why was it necessary for a developing country like India to follow self-reliance as a planning objective?

MEDIUM

Economics>Indian Economy Post-independence>Indian Economy 1950-1990>Five Year Plans

Why was self-reliance emphasized as a planning objective in India?

EASY

Economics>Indian Economy Post-independence>Indian Economy 1950-1990>Five Year Plans

What do you mean by growth?

EASY

Economics>Indian Economy Post-independence>Indian Economy 1950-1990>Five Year Plans

GDP stands for:

MEDIUM

Economics>Indian Economy Post-independence>Indian Economy 1950-1990>Five Year Plans

What is the primary objective of setting goals in a plan?

HARD

Economics>Indian Economy Post-independence>Indian Economy 1950-1990>Five Year Plans

Construct a pie chart for the following table on sectoral contribution to GDP and discuss the difference in the contribution of the sectors in the light of effects of development during