Indian Economy 1950-1990
Why was it necessary for a developing country like India to follow self-reliance as a planning objective?
A nation can promote economic growth and modernisation by using its own resources or by using resources imported from other vations. The first seven five year plans gave importance to 'Self Reliance' which means averting imports of those goods which could be produced in India itself. When the economy becomes 'self reliant' especially in the field of food grains, it can save foreign exchange and can promote exports. It call reduce its dependence on other countries.
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What do you mean by economic planning?
In India who is the chair person of Planning Commission?
Who formulate plans in India?
Who floated the idea of planning in India first of all?
How many plans have been completed in India so far?
Define capitalist economy.
What is a socialist economy?
What is mixed economy?
What is meant by economic growth?
What structural change undergoes with development of the economy?
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