Basic strategy of indian planning
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The document outlines the main elements and strategies of Indian planning, including a wide scope, mixed economy, emphasis on the public sector, employment generation, balanced regional development, self-reliance, and progress for backward classes. The strategies of the 11th Plan focused on faster and more inclusive growth, while the 12th Plan aimed for faster, sustainable, and more inclusive growth. The strategies achieved industrial development, export promotion, infrastructure growth, and agricultural development, but failed to achieve balanced regional development, reduce unemployment, control inflation, and eliminate poverty.
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1. The Khadi and Village Industries Commission (KVIC) will establish strict criteria for Khadi production units to be recognized as authentic producers eligible for Government rebates and incentives. These may include parameters around raw material sourcing, production processes, record keeping, etc.
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One of the earliest efforts to estimate an agricultural production function was conducted by Spillman using data on fertilizer, feed, and livestock fattening. He proposed a production function of the form Y = M(1-Rx) to represent diminishing returns.
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Schultz proposes ways to transform traditional agriculture into modern agriculture. He defines traditional agriculture as occurring when technology and farmer preferences remain unchanged for long periods, resulting in equilibrium between input marginal productivities and costs. Characteristics include allocative efficiency and no zero-value labor. Schultz suggests supplying new higher-yielding factors through R&D, distribution, and extension. Farmers will demand new factors if they are profitable. The transformation process involves shifting supply and demand curves outwards to a new equilibrium with lower input prices, higher output, and returns. However, critics argue Schultz's concept is too general, ignores disguised unemployment, questions efficiency under his assumptions, and takes a command approach rather than considering farmer responsiveness
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Here is a draft clause to address the issue of bogus Khadi units operating in India and claiming rebates from the Government of India under the existing Industrial Policy of India:
To promote authentic Khadi production and curb the operation of bogus Khadi units, the following measures shall be introduced:
1. The Khadi and Village Industries Commission (KVIC) will establish strict criteria for Khadi production units to be recognized as authentic producers eligible for Government rebates and incentives. These may include parameters around raw material sourcing, production processes, record keeping, etc.
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It should be clear to readers that the classical economists did not formulate any specific theory of employment as such. They only laid down certain postulates which subsequently developed as a theory.
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This document summarizes Sylos-Labini's model of limit pricing in oligopoly markets. The key points are:
1) The model assumes a price leader firm that allows smaller firms to earn normal profits by setting the price between the large firm's lower costs and the small firm's higher costs.
2) If new firms enter, supply increases and price falls to the small firm's cost level, earning only normal profits and preventing further entry.
3) The existing firms then raise price back to the limit level to earn abnormal profits again and deter future entry. The limit pricing strategy deters competition from new entrants.
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This document outlines the structural theory of inflation in less developed countries. It discusses how structural defects and bottlenecks exist in these economies that cause inflation, making the traditional quantity theory of money not applicable. Three main types of bottlenecks are described: agricultural bottlenecks due to issues like land ownership that limit food production growth; government resource constraints that force them to print money to fund infrastructure projects leading to inflation; and foreign exchange bottlenecks from low exports and high import payments causing currency devaluations and price increases. The structural theory argues these bottlenecks must be addressed through balanced investment instead of just monetary or demand-side policies to effectively reduce inflation in less developed economies.
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- It models economic output as a linear function of capital stock, without diminishing returns to capital.
- This allows for perpetual long-run growth, unlike exogenous models which predict convergence to a steady state.
- The growth rate depends on savings rate and the level of technology, represented by the parameter A. Improvements in A can permanently increase the growth rate.
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Get to know - five year action plan in India. Since 1947, the Indian economy has been premised on the concept of planning. This has been carried through the Five-Year Plans, developed, executed, and monitored by the Planning Commission.
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FIVE YEAR PLANS OF INDIA
The First Five Year Plan from 1951-1955 had total budget of 206.8 billion INR. Its objectives were to raise living standards and develop agriculture, energy, irrigation, industry, and social services. The plan achieved GDP growth of 3.6% per year, exceeding its target of 2.1%. The Second Five Year Plan from 1956-1961 aimed to increase national income by 25% and make India more industrialized. It achieved the establishment of 5 steel plants, increased coal and railway production, and land reforms. The Third Five Year Plan from 1961-1966 focused on agriculture, employment, equality, and decentralization through organizations like village councils.
Five Year Plans of India
The First Five Year Plan from 1951-1955 had total budget of 206.8 billion INR. Its objectives were to raise living standards and develop agriculture, energy, irrigation, industry, and social services. The plan achieved GDP growth of 3.6% per year, exceeding its target of 2.1%. The Second Five Year Plan from 1956-1961 aimed to increase national income by 25% and make India more industrialized. It achieved the establishment of 5 steel plants, increased coal and railway production, and land reforms. The Third Five Year Plan from 1961-1966 focused on agriculture, employment, equality, and decentralization through organizations like village councils.
five year plans of India
The First Five Year Plan from 1951-1955 had total budget of 206.8 billion INR. Its objectives were to raise living standards and develop agriculture, energy, irrigation, industry, and social services. The plan achieved GDP growth of 3.6% per year, exceeding its target of 2.1%. The Second Five Year Plan from 1956-1961 aimed to increase national income by 25% and make India more industrialized. It achieved the establishment of 5 steel plants, increased coal and railway production, and land reforms. The Third Five Year Plan from 1961-1966 focused on agriculture, employment, equality, and decentralization through organizations like village councils.
five year plans of India
The First Five Year Plan from 1951-1955 had total budget of 206.8 billion INR. Its objectives were to raise living standards and develop agriculture, energy, irrigation, industry, and social services. The plan achieved GDP growth of 3.6% per year, exceeding its target of 2.1%. The Second Five Year Plan from 1956-1961 aimed to increase national income by 25% and make India more industrialized. It achieved the establishment of 5 steel plants, increased coal and railway production, and land reforms. The Third Five Year Plan from 1961-1966 focused on agriculture, employment, equality, and decentralization through organizations like village councils.
Five year plan
The document provides details about India's various Five Year Plans from the First Five Year Plan in 1951 to the Eleventh Five Year Plan in 2012. It outlines the objectives, targets, achievements and problems faced for each plan. The key goals of the plans included economic growth, self-reliance, poverty elimination, employment generation, and development of infrastructure, agriculture, and industry. Major achievements included the establishment of large scale industries and projects in sectors like steel, energy and irrigation. Problems included droughts, wars and economic recessions.
Inclusive growth
Inclusive growth is a current applied phenomenon in the development plans of INDIA which is compulsorily accounts growth of all sectors i.e; inclusive governance,infrastructure development,sustainable development,poverty reduction and decentralized decision making process with special emphasis to women,elderly people,,child,disabled people.
7th five year plan
The 7th Five Year Plan in India aimed to accelerate food grain production, increase employment, and raise productivity with a focus on food, work, and productivity. Key objectives included decentralizing planning, reducing poverty and income disparities, generating employment, achieving self-sufficiency in food, improving social services, promoting self-reliance, improving industrial capacity and productivity, and integrating science and technology. The plan focused on agriculture development, anti-poverty programs, universal access to food, clothing, shelter, and increasing small and large farmer productivity and independence. The economy grew at 6% against a target of 5% during this successful plan period.
Fiscal Policy
This document discusses fiscal policy and its objectives. It provides information on fiscal policy tools used by governments to influence economic growth, employment and prices. The key objectives of fiscal policy are mobilizing resources, accelerating economic growth, minimizing income inequality, increasing employment opportunities, and maintaining price stability. Examples of fiscal tools include taxation, public expenditure, borrowing. The document also summarizes Indian fiscal policy goals of rapid growth, employment expansion, reducing disparities.
Five year-plans
The document outlines India's 11 Five Year Plans from 1951-2007. It provides the objectives, achievements, and problems faced for each plan. The plans aimed to develop India's economy through industrialization, agriculture, infrastructure, education, and reducing poverty and inequality. Key achievements included increasing GDP growth, developing industries and irrigation, the Green Revolution, and improving standards of living. Problems faced included the world economy, drought, inflation and political instability at times slowing progress.
Five year plans of India:Goals and Achievements
Objectives of Five year plans in India,Five year plans,India,Development in India,Planning,Economic planning,Industries,India,Planning commission of India
OBJECTIVES OF ECONOMIC DEVELOPMENT.pptx
The document outlines several key objectives of economic development:
1. High rate of economic growth to steadily increase a country's output of goods and services over time. Countries aim for growth rates of 2-3% annually.
2. Economic self-reliance so a country can rely on its own resources and generate enough surplus to import what it needs, without excessive dependence on foreign aid or imports.
3. Social justice to promote fairness and equitable distribution of wealth across all sections of society, including improving conditions for disadvantaged groups.
4. Modernization to transform traditional economic and social structures through technological and scientific advancements.
5. Economic stability to avoid large fluctuations in the economy and ensure non-inflation
National development policy (ndp)
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Basic strategy of indian planning
- 1. BASIC STRATEGY OF INDIAN PLANNING
- 2. MEANING Strategy refers to the detailed actions and policies which are to be adopted to achieve definite objectives.
- 3. MAIN ELEMENTS OF STRATEGY OF INDIAN PLANNING WIDE SCOPE MIXED ECONOMY MORE IMPORTANCE TO PUBLIC SECTOR GROWTH OF SAVING AND INVESTMENT EMPLOYMENT ORIENTED BALANCED REGIONAL DEVELOPMENT SELF RELIANCE PROGRESS PF BACKWARD CLASSES EDUCTION SOCIAL WELFARE
- 4. STRATEGY OF ELEVENTH PLAN 2007-2012 “Faster and More Inclusive Growth” To achieve rapid growth Benefits of growth for all sections of population especially rural areas Double growth rate of agriculture Health and education Double digit growth in manufacturing sector Employment opportunities Focus on private sector Development of infrastructure Control over inflation Technology up gradation Promoting foreign investment Protecting environment
- 5. STRATEGY OF TWELFTH PLAN 2012-2017 “Faster, Sustainable and More Inclusive Growth” Improve standard of living To boost agriculture sector to control food inflation Sustainable Growth in manufacturing sector To boost service sector for faster economic development To boost growth in export sector by setting up more SEZs, NIMZs and Agri-Export Zones Skill development To encourage PPP Development of backward states To boost R&D
- 6. ACHIEVEMENTS OF THE STRATEGY Industrial development’ Export-Promotion and Import Substitution Development of infrastructure Promotion of R&D Agricultural development Promotion of social services
- 7. Failures of strategy Slow economic growth Failed to achieve balanced regional development Unemployment Increase in prices Poverty ( 21.9% of population is living below poverty line)