Achievements and failures of economic planningEconomic Growth: The GDP growth rate increased from around 3% during the initial plans to over 6% in later years.Industrial Development: Established a strong base for industries, particularly in…
Types of planning: Indicative and imperativeEconomic 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…
Planning Commission and NITI AayogThe 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…