HPSC (Haryana) Exam > HPSC (Haryana) Videos > Crash Course for Haryana Public Service Commission (HPSC) > Economy: Planning in India - 3
Economy: Planning in India - 3 Video Lecture | Crash Course for Haryana Public Service Commission (HPSC) - HPSC (Haryana)
FAQs on Economy: Planning in India - 3 Video Lecture - Crash Course for Haryana Public Service Commission (HPSC) - HPSC (Haryana)
| 1. What are the key objectives of economic planning in India? |  |
Ans. The key objectives of economic planning in India include achieving a high rate of economic growth, reducing poverty and inequality, ensuring sustainable development, and promoting self-reliance. Planning also aims to optimize the use of resources, enhance social welfare, and achieve regional balance in development.
| 2. What role does the Planning Commission play in India's economic planning? | |
Ans. The Planning Commission was established to formulate and implement India's Five-Year Plans. It played a crucial role in assessing the country's resources, setting development priorities, and coordinating with various sectors for effective plan execution. Although it has been replaced by the NITI Aayog, its historical contributions to economic planning remain significant.
| 3. How has economic planning evolved in India since independence? | |
Ans. Economic planning in India has evolved from a focus on centralized planning in the early years post-independence to a more market-oriented approach in recent decades. Initially, the emphasis was on heavy industries and public sector development, but over time, the focus shifted towards liberalization, privatization, and globalization to enhance economic efficiency and growth.
| 4. What are the major challenges faced in economic planning in India? | |
Ans. Major challenges in economic planning in India include persistent poverty and unemployment, regional disparities in development, inadequate infrastructure, and the need for sustainable resource management. Additionally, the complexities of a diverse population and varying needs across states pose significant hurdles for effective planning.
| 5. How do Five-Year Plans contribute to India's economic growth? | |
Ans. Five-Year Plans serve as a framework for setting economic targets and priorities, guiding resource allocation, and evaluating progress in various sectors. They aim to enhance productivity, promote investment in critical areas such as education and health, and address socio-economic issues, thereby contributing to sustained economic growth and development in the country.
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Oct 21, 2025
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