Economic Planning and Development

Understanding Inflation Control Measures

1. Inflation control measures are policies implemented to stabilize prices and maintain economic balance.
2. They are broadly categorized into Monetary Policies and Fiscal Policies.

Monetary Policy Measures

1. Monetary policy is administered by the central bank (e.g., the Reserve Bank of India) to regulate money supply and interest rates.
2. Controlling money supply: Reducing the availability of money in the economy to lower

The Sustainable Development Goals (SDGs) are a global framework adopted by the United Nations (UN) in 2015 to address the world's most pressing challenges by 2030. These 17 goals provide a roadmap for achieving a sustainable future by balancing economic growth, social inclusion, and environmental protection.

The Gender Development Index (GDI) is a measure developed by the United Nations Development Programme (UNDP) to assess gender disparities in human development achievements. It compares the Human Development Index (HDI) values for males and females within a country.

The Multidimensional Poverty Index (MPI) is a comprehensive measure that assesses poverty beyond income by evaluating multiple deprivations faced by individuals in their daily lives. It was developed by the Oxford Poverty and Human Development Initiative (OPHI) and the United Nations Development Programme (UNDP).

The Human Development Index (HDI) is a composite measure developed by the United Nations Development Programme (UNDP) to assess and rank countries based on their level of human development. It goes beyond economic indicators like GDP and considers factors that affect the quality of life.

1. Economic Growth: The GDP growth rate increased from around 3% during the initial plans to over 6% in later years.
2. Industrial Development: Established a strong base for industries, particularly in sectors like steel, coal, and heavy machinery.
3. Infrastructure Development: Expansion of roads, railways, electricity generation, and irrigation systems.
4. Agricultural Improvements: The Green Revolution increased agricultural productivity, ensuring food s

Economic planning involves designing strategies for achieving economic development. The two main types of planning are Indicative Planning and Imperative Planning. These approaches differ in their methodologies and application.

The Planning Commission and NITI Aayog are two key institutions in India's economic planning history. The transition from the Planning Commission to NITI Aayog marked a shift in India’s approach to development planning and governance.

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