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Self reliance objective of planning means reducing dependence
- a)On foreign trade
- b)One region of country over the other
- c)On foreign aid
- d)One individual over other
Correct answer is option 'C'. Can you explain this answer?
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Self reliance objective of planning means reducing dependencea)On fore...
Self-reliance, or for that matter self-sufficiency, refers to the elimination of external assistance. It means that an economy is so sufficient that it does not have to rely on any external help or assistance. In other words, it means zero foreign aid.
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Self reliance objective of planning means reducing dependencea)On fore...
Self-Reliance Objective of Planning
The self-reliance objective of planning refers to reducing dependence on external sources and promoting domestic capabilities. In the Indian context, it was introduced during the 1970s as a response to the economic crisis caused by a shortage of foreign exchange. The aim is to achieve sustainable development by reducing vulnerability to external shocks and promoting domestic production and consumption.
Reducing Dependence on Foreign Aid
One of the key aspects of the self-reliance objective of planning is to reduce dependence on foreign aid. This is because foreign aid comes with strings attached, such as conditions on how the funds can be used and restrictions on domestic policies. By reducing reliance on foreign aid, a country can have more control over its economic policies and promote domestic industries.
Promoting Domestic Production
Another aspect of the self-reliance objective of planning is to promote domestic production. This can be achieved by providing incentives to domestic industries, improving infrastructure, and investing in research and development. By promoting domestic production, a country can reduce its dependence on imports and increase its exports, thereby improving its trade balance.
Reducing Regional Disparities
The self-reliance objective of planning also aims to reduce regional disparities within a country. This is because regional disparities can lead to social and economic imbalances, which can hinder development. By promoting balanced regional development, a country can ensure that all regions benefit from economic growth and development.
Conclusion
In conclusion, the self-reliance objective of planning is an important aspect of economic development. By reducing dependence on external sources and promoting domestic production and consumption, a country can achieve sustainable development and reduce vulnerability to external shocks.
The self-reliance objective of planning refers to reducing dependence on external sources and promoting domestic capabilities. In the Indian context, it was introduced during the 1970s as a response to the economic crisis caused by a shortage of foreign exchange. The aim is to achieve sustainable development by reducing vulnerability to external shocks and promoting domestic production and consumption.
Reducing Dependence on Foreign Aid
One of the key aspects of the self-reliance objective of planning is to reduce dependence on foreign aid. This is because foreign aid comes with strings attached, such as conditions on how the funds can be used and restrictions on domestic policies. By reducing reliance on foreign aid, a country can have more control over its economic policies and promote domestic industries.
Promoting Domestic Production
Another aspect of the self-reliance objective of planning is to promote domestic production. This can be achieved by providing incentives to domestic industries, improving infrastructure, and investing in research and development. By promoting domestic production, a country can reduce its dependence on imports and increase its exports, thereby improving its trade balance.
Reducing Regional Disparities
The self-reliance objective of planning also aims to reduce regional disparities within a country. This is because regional disparities can lead to social and economic imbalances, which can hinder development. By promoting balanced regional development, a country can ensure that all regions benefit from economic growth and development.
Conclusion
In conclusion, the self-reliance objective of planning is an important aspect of economic development. By reducing dependence on external sources and promoting domestic production and consumption, a country can achieve sustainable development and reduce vulnerability to external shocks.
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Self reliance objective of planning means reducing dependencea)On foreign tradeb)One region of country over the otherc)On foreign aidd)One individual over otherCorrect answer is option 'C'. Can you explain this answer?
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