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Economic planning in india ppt
 

Economic planning in india ppt

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    Economic planning in india ppt Economic planning in india ppt Presentation Transcript

    • Economic Planning in India. Transition from Mixed Economy to Market Economy. Transition in GDP. Presented By K.Naga Sundar S.Sridhar Reddy T.Mounika
    • Contents • Introduction of Economic Planning • Essential Objectives of Planning • Definitions of Mixed and Market Economies • Transition from Mixed to Market Economy • Transition in GDP • Sectors affecting GDP • Factors affecting GDP • Conclusion
    • Introduction of Economic Planning • Planning is an economic mechanism for resource allocation and decision-making. • Economic planning refers to any directing or planning of economic activity outside the mechanisms of the market. • The Economic Planning has been going on great since independence. • This has played a major role in the development of the country and led India become self sufficient.
    • Essential Objectives of Planning • High Rate of Growth • Economic Self-Reliance • Social Justice • Modernization of the Economy • Economic stability
    • Definitions Of Mixed And Market Economies • Mixed economy is an economic systems in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies. • A market economy is an economy in which decisions regarding investment, production and distribution are based on supply and demand and the prices of goods and services are determined in a free price system.
    • Transition From Mixed to Market Economy • A mixed economy permits private participation in manufacturing and production. • It also contributes to public ownership in fabrication and manufacturing which can take full advantage of social welfare. • In a mixed market economy this system is governed by licensing and regulation policies.
    • Transition From Mixed Economy to Market Economy(contd…) • A market economy is known as a "free market economy". • It is controlled by the law of supply and demand which in return will determine the price of services and goods. • In a market economy the exchange of goods, services, and information take place freely according to the supplier and the buyer.
    • Transition From Mixed to Market Economy(contd…) • Mixed economy’s regulations may paralyze features of production. • Lack of price control management can cause shortages in goods and can result in recession. • The market economy is merely driven by the sellers and the buyers with very few government regulations. • This in turn leads to effective marketing.
    • Factors Affecting GDP • Agriculture • Investments • Services • Textiles • Tourism • Banking and Finance • Foreign Direct Investments
    • Transition in GDP • The goal of GDP is to measure the total production of goods and services produced in the economy each year. • GDP is important because it gives an indication of how successfully society is addressing the scarcity problem.
    • Sectors Affecting GDP
    • Conclusion • Planning involves economizing of scarce resources inorder to reduce the inequalities of income and wealth. • Transition from Mixed to Market economy leads to proper exchange of goods and services at an eqilibrium price. • Transition in GDP defines the overcoming of scarcity problems in the market.