Importance of economic planning in India from "summary" of Oswaal NCERT One For All for UPSC & State PSC's Indian Economy Classes-9 to 12 (Old & New NCERT Edition) (For 2023 Exam) by Oswaal Editorial Board
Economic planning plays a crucial role in the development of any country, and India is no exception. The concept of economic planning involves setting specific goals and objectives for the economy and devising strategies to achieve them. In the Indian context, economic planning is essential due to the diverse nature of the country's economy, which consists of various sectors such as agriculture, industry, and services. One of the primary reasons why economic planning is important in India is to ensure balanced and sustainable growth across all sectors of the economy. By setting targets for each sector and allocating resources accordingly, the government can prevent the over-concentration of resources in one sector at the expense of others. This balanced growth is crucial for reducing income inequalities and promoting overall economic development. Additionally, eco...
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