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Indian Economy 1950-1990

Question

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Explain ‘growth with equity’ as a planning objective.

Solution

Growth refers to the increase in the country's capacity to produce the output of goods and services within the country. A good indication of economic growth is the steady increase in the GDP.

In equity every Indian should be able to meet his or her basic needs such as food, a decent house, education and heath care and inequality in the distribution of wealth should be reduced. Hence growth with equity 'implies that benefits of development should be evenly available to everybody.

Some More Questions From Indian Economy 1950-1990 Chapter

What is meant by economic growth?

What structural change undergoes with development of the economy?

Name the sectors from which the GDP of a country is derived.

On which idea is the policy of 'land to tiller' is based?

Where is the provision for economic and social planning in our Constitution?

Why is agriculture called the backbone of Indian Economy?

What is meant by agriculture?

What are the main causes of backwardness of Indian agriculture?

What do you mean by land reforms?

What is consolidation of holdings?

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