3 Economybasics Planning

Economybasics  Planning 

Qts 1 what is Imperative Planning

In this type of planning, the Central Planning authority decides upon every aspect of the economy and the targets set and the process delineated to achieve them are to be strictly followed. This type of planning is mainly practised in the socialist economies.

Qts 2 What is Indicative Planning

In this type of planning, the State / Government  sets broad parameters and goals for the economy. Private companies or  firms invest money and execute plans 

Qts 3 What is Perspective Planning

It's a type of planning for a long period of time, usually 15 to 20 years. As a highly specialized task,  that broadly defines the directions desired to be taken by the economy.

Qts 4 What is Rolling Plan

Plan prepared for one year

Qts 5 what is Core Plan

Makings plan on realistic basis. It based on three previous year achievements and estimated next three years achievement. It based on zero based budget   plan

Qts 6 Explain about NITI (National Institution for Transforming India) Aayog 

1. NITI Aayog is a policy think-tank of government that replaces Planning Commission and aims to involve states in economic policy-making in India
2.  It will be providing strategic and technical advice to the Central and the State Governments.
3. NITI Aayog became functional from 1st January, 2015.

Members

The NITI Aayog comprises of the followings:

1. Prime Minister of India as the Chairman.
2. Government Councils comprising the Chief Ministers of all the States and Lieutenant Governors of Union Territories.
3. Regional Councils will be formed to address specific issues and Contingencies impacting more than one state or a region. 
4. Experts, specialists and practitioners with relevant domain knowledge as special invitees nominated by the Prime Minister.

Qts 7 Explain about First Five Year Plan (1951-195 

Agriculture was on top priority. The first Plan emphasized, as its immediate objectives the rehabilitation of refugees, rapid agricultural development and control of inflation.

Qts 8 Explain about Second Five Year Plan (1956-1961)

1. Based on the P.C. Mahalanobis model. Aimed at rapid industrialization with development of basic and heavy industries.
2. Steel Plants at Durgapur, Bhilai and Rourkela were established.

Qts 9 Explain about  Third Five Year Plan (1961-1966)

Agriculture and industry both were on its priority'. 

Green revolution started by M S Swaminathan

Qts 10 Explain about  Fourth Five Year Plan (1969-1974)

Objectives 'growth with stability' and 'progressive achievement of self reliance.

Verghese Kurien started Operation flood or White Revolution

Qts 11 Explain about Fifth Five Year Plan (1974-1979)

Objectives: poverty eradication or Garibhi Hatao

Qts 12 Explain about Sixth Five Year Plan (1980-1985)

Achieving economic and technological self- reliance, generating employment and improving the quality of life.

Qts13 Explain about Seventh Five Year Plan (1985-1990)

First time private sector was given priority. Objectives include establishment of self-sufficient

Qts14 Explain about Eighth Five Year Plan (1992-1997)

Globalisation, Liberaliasation , Disinvestment , Privatisation, Special Econmic Zone Initiated 

Qts 15 Explain about Ninth Five Year Plan (1997-2002)

       Growth with Social Justice and Equity.

Qts16 Explain about Tenth Five Year Plan (2002-2007)

1. Doubling  the per capita income in next 10 years. Tenth Plan was expected to follow a regional approach.
2. India's foreign exchange reserves reached a level of US $185 billion in February 2007.

Qts17 Explain about Eleventh Five Year Plan (2007-2012)

The 11th plan visualized, Faster and more inclusive growth as its objective. Rate of growth of GDP was 8.0%.

Qts 18 Explain about Twelfth Five Year Plan (2012-17)

Vision of Faster, Sustainable and More Inclusive Growth.