Main Objective of Economic Planning in India
Economic planning in India aims to achieve various socio-economic objectives through systematic allocation of resources and implementation of policies. The main objective of economic planning in India can be outlined as follows:
Promotion of Economic Growth
- One of the key objectives of economic planning in India is to promote sustained economic growth by increasing the rate of capital formation and investment in productive sectors.
Reduction of Poverty and Inequality
- Economic planning in India aims to reduce poverty and inequality by implementing policies that focus on inclusive growth, equitable distribution of resources, and targeted welfare programs.
Optimal Utilization of Resources
- Economic planning in India seeks to ensure the optimal utilization of resources by prioritizing investments in sectors that have the potential to generate high returns and contribute to overall economic development.
Promotion of Industrialization and Infrastructure Development
- Another objective of economic planning in India is to promote industrialization and infrastructure development through targeted policies and incentives to attract investments and stimulate growth in key sectors.
Stabilization of Prices and Control of Inflation
- Economic planning in India also aims to stabilize prices and control inflation by implementing monetary and fiscal policies that regulate demand and supply in the economy.
In conclusion, the main objective of economic planning in India is to achieve sustainable and inclusive growth by effectively managing resources, promoting industrialization, reducing poverty and inequality, and ensuring price stability.