In 1934, Sir M. Visvesvaraya had published a book titled “Planned Economy in India”, in which he presented a constructive draft of the development of India in next ten years. His core idea was to lay out a plan to shift labor from agriculture to industries and double up National income in ten years.
Who is responsible for planning in India?
Planning Commission, agency of the government of India established in 1950 to oversee the country’s economic and social development, chiefly through the formulation of five-year plans.
Who floated the idea of planning in India and when?
India launched its First FYP in 1951, under socialist influence of first Prime Minister Jawaharlal Nehru.
Who is the father of public planning?
Ans. Father of Indian Economic Planning is Mokshagundam Visvesvaraya. better known as M. Visvesvaraya.
Which type of body is planning commission?
The Planning Commission is a non-constitutional and non-statutory body and is responsible for formulation of five years plan for social and economic development in India.
What is the main objective of Indian planning?
Here we detail about the six major objectives of planning in India, i.e., (a) Economic Growth, (b) Attaining Economic Equality and Social Justice, (c) Achieving Full Employment, (d) Attaining Economic Self-Reliance, (e) Modernisation of Various Sectors, and (f) Redressing Imbalances in the Economy.
How many plans have been completed in India?
Indian Economy 1950-1990. How many plans have been completed in India so far? Ten plans have been completed in India so far.
What means economic growth?
Economic growth is an increase in the production of economic goods and services, compared from one period of time to another. It can be measured in nominal or real (adjusted for inflation) terms.