Planning And Niti Aayog — Flashcards

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Economic planning is a process where the government sets predetermined goals and decides how to use resources to achieve them within a fixed time. It involves direct control or influence over major ec…

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Planning helps in efficient use of limited resources, promotes balanced regional development, increases employment, reduces poverty, and ensures self-sufficiency. It prevents wastage and maintains bal…

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Democratic planning is a type of economic planning where public opinion is valued, and people have freedom in economic activities. The government plans based on people's needs and feedback, unlike aut…

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Autocratic planning is when the central authority controls all economic activities like production, consumption, and distribution. There is no public participation, and decisions are made from the top…

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Centralized planning is done entirely by a central authority (like the Planning Commission), while decentralized planning involves local and regional bodies in decision-making. Centralized is top-down…

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Perspective planning refers to long-term planning (15–25 years) that sets broad goals. Short-term five-year plans and annual plans are made under this long-term vision to ensure steady progress toward…

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The main objectives were: economic growth, self-reliance, balanced regional development, employment generation, reduction of income inequality, poverty eradication, modernization, and inclusive growth…

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India started its First Five Year Plan in 1951, which lasted until 1956. The main focus was on developing agriculture and irrigation facilities to improve food production.