this presentation is meant for the students of class XII of CBSE board

1. Presented By: RAJARSHI PALIT
PGT (Economics)
JNV BIRBHUM , WEST BENGAL

2.  The learners will be able to define various economic
systems.
 The learners will be able to describe the reasons
behind India adopting a mixed economic system.
 The learners will be able to explain the achievements
of economic planning in India.
 The learners will be able to distinguish
between various economic systems.
 The learner will be able to justify the objectives of
India’s economic planning.
 The learners will be able to describe the achievements
of Indian planning.

3. ◦ A ) Capitalist Economy.
◦ B) Socialist Economy.
◦ C) Mixed Economy.

4.  Capitalist Economy: It is a system where the means of
production and distribution are driven by the market
forces. The forces of demand and supply.
 Socialist Economy : It is a system where the means of
production and distribution are owned by the state. State
here means the government of the land.
 Mixed Economy : It is a type of economic system which
has the elements of both the capitalist as well as the
socialist system. Here both the Public sector and the
private sector exist.

5.  While adopting a economic system the Indian policy makers
wanted a system which would promote the welfare of all rather
than a few.
 Socialism as a system appealed to Jawaharlal Nehru. However , he
didn’t support all the economic activities being carried out by the
Public sector.
 So India adopted the best of the Socialist system with private sector
also being encouraged to participate in economic activities.
 The IPR( Industrial Policy Resolution) 1948 and the directive
principles of the state policy reflect that.
 1950 Planning commission was set up with the PM as its chairman.

6.  “ Economic planning means utilisation of
country’s resources in different development
activities in accordance with national priorities.”
 The specific goals of India’s five year plans were;
a) Growth
b)Modernisation
c)Self reliance and
d) Social justice( Equity)

7.  Dr. Prasanta Chandra Mahalanobis born in 1893 in Calcutta
was the architect of Indian Planning.
 He started the journal Sankhya which is still trusted
platform for the statisticians to discuss various issues on
statistics.
 Growth : It is the increase in the country’s capacity to
produce goods and services within.
 Growth implies a large stock of capital or a large size of
supporting services like transport and banking.
 Increase in GDP is an indicator of growth.

8.  Modernisation: Modernisation is the improvement in the
techniques of production which helps in achieving higher levels
of production. However it also means changes in social outlook
of the people.
 Self Reliance: Self reliance means being independent. India in
its first seven five year plans avoided imports. This was mainly
done to reduce India’s dependence of foreign nations and also
encourage domestic industries.
 Equity: It is important that the benefits of
growth, Modernisation and Self reliance reaches every
individual of the country. All the citizens should have a decent
life and access to the ways and means of earning their livelihood

9.  First Plan (1951–1956)
 Second Plan (1956–1961))
 Third Plan (1961–1966))
 Fourth Plan (1969–1974))
 Fifth Plan (1974–1978)
 Sixth Plan (1980–1985)
 Seventh Plan (1985–1990)
 Eighth Plan (1992–1997)
 Ninth Plan (1997–2002)
 Tenth Plan (2002–2007)
 Eleventh Plan (2007–2012)
 Twelfth Plan (2012–2017)

10.  Define economic planning.
 In which year was planning commission formed in India?
 State the common 0bjectives of Indian five year plans?
 Which Institution has replaced the planning commission?
 Mention an indicator of economic growth ?
 Why do we plan?

11. Stay safe.