Its all about economic reforms, its need, economic reforms in India and economic planning in India

2. ECONOMIC REFORM
Reform- A change for the better
Economic Reforms – Necessary
Structural and Institutional
adjustments/ changes in the
economy

3. NEED OF ECONOMIC
REFORMS
 Increase in Fiscal Deficit
 Increase in adverse Balance of
Payment
 Gulf Crisis
 Fall in Forex Reserve
 Rise in prices
 Poor performance of public sector

4. ECONOMIC REFORMS IN
INDIA
 In 1990 & 1991- Liberalization
was started
 Followed a Gradualistic Approach
 Satisfactory results in different
fields

5. MAJOR ECONOMIC
REFORMS
 New Industrial Policy
 New Trade Policy
 Fiscal Reforms
 Monetary Reforms
 Capital Market Reforms
 Phasing out Subsidies
 Dismantling Price Control

6. ECONOMIC PLANNING
 A continuous process
 Key decisions are made
 By Planning Commission
 To achieve particular goals
A Development Plan is constructed

7. NATURE & SCOPE OF
ECONOMIC PLANNING
Planning as Capitalist
Economy
Planning as Socialist Economy
Planning as Mixed Economy

8. SIGNIFICANCE OF
ECONOMIC PLANNING
 Better utilization of resources
 Helps in identifying the
deficiencies
 Facilitates Institutional changes
 Ensures every player play their
part
 Inter relationship between
national economy can be seen

9. ECONOMIC PLANNING
IN INDIA
 Five Year Plan
 1st Five Year Plan – 1950
 Finance Commissioners are
appointed every 5 years
 Annual plans were also
formulated

10. THE PLANNING
MACHINERY
 Planning Commission
 National Development Council

11. OBJECTIVES OF
ECONOMIC PLANNING
 Increase in National Income
 Full Employment
 Reduction in Inequalities of
Income & Wealth
 Social Justice
 Other Objectives