Ramesh Singh Summary: Economic Planning | Indian Economy for UPSC CSE PDF Download

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• There are various types of economic planning, including centralized planning, decentralized planning, indicative planning, and mixed planning. Centralized planning involves government control and decision-making, while decentralized planning involves greater involvement of local authorities and communities. Indicative planning sets goals and provides guidelines without strict government control, and mixed planning combines elements of both market forces and government intervention.

• centrally planned economy indicative planning works through the market (price system) rather than replaces it.

• With the primary aim of flood control, soil conservation and providing electricity, the TVA/the regional plan was also involved in many related activities such as industrial development, forestry, wildlife conservation, town planning, construction of road and rail, encouraging sound agricultural practices and malaria control in the defined region

• After the Second World War. several countries went for development planning

• As these nations had enormous socioeconomic hurdles, they first set some goals and objectives and then started their process of realising them via planning.

• ORIGIN AND EXPANSION OF PLANNING

• ) Regional Planning

• National Planning

• TYPES OF PLANNING

• directive or target planning

• all economic decisions were centralised in the hands of the state with collective ownership of resources

• Indicative Planning

• followed by the state economies

• idea of planning got attention from the democratic world

• After the soviet planning commenced

• mixed economies.

• moved towards normative planning

• all round, all pervasive, all inclusive and holistic

• t influences resource allocation, investment decisions, and overall economic performance