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Five Year Plans - Economics, UPSC IAS Exam Preparation Video Lecture | Indian Economy (Prelims) by Shahid Ali
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FAQs on Five Year Plans - Economics, UPSC IAS Exam Preparation Video Lecture - Indian Economy (Prelims) by Shahid Ali
| 1. What are Five Year Plans in economics? |  |
Answer: Five Year Plans in economics refer to a series of comprehensive development plans implemented by the government of India to promote economic growth and address various socio-economic issues. These plans outline specific targets, strategies, and allocations of resources for a period of five years to achieve desired economic outcomes.
| 2. What is the purpose of the Five Year Plans in India? | |
Answer: The purpose of the Five Year Plans in India is to promote balanced economic development, reduce poverty, increase employment opportunities, and improve the standard of living for the population. These plans aim to allocate resources efficiently, prioritize sectors for development, and achieve sustainable economic growth.
| 3. How many Five Year Plans have been implemented in India so far? | |
Answer: As of now, India has implemented thirteen Five Year Plans since its independence in 1947. The first Five Year Plan was initiated in 1951, and subsequent plans have been implemented with different objectives and priorities based on the prevailing economic and social conditions.
| 4. How are the targets and strategies of the Five Year Plans determined? | |
Answer: The targets and strategies of the Five Year Plans are determined through a consultative and participatory process. The government consults various stakeholders, including experts, economists, and policymakers, to identify key sectors and formulate strategies to achieve desired economic outcomes. These plans are then approved by the National Development Council (NDC) before implementation.
| 5. Have the Five Year Plans been successful in achieving their objectives? | |
Answer: The success of the Five Year Plans in achieving their objectives varies across different periods and sectors. While some plans have been successful in achieving their targets, others have faced challenges and limitations. The effectiveness of these plans depends on various factors, including the implementation capacity, external factors, policy coherence, and changing economic circumstances. Overall, the Five Year Plans have played a crucial role in shaping India's economic development and have contributed to significant progress in various sectors.
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Oct 31, 2024 Last updated |
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