Subject: Economics
Book: Comprehensive Indian Economy
Post-independence, India adopted Five-Year Plans inspired by socialist economic planning, focusing on industrial development, self-sufficiency, and poverty reduction. Over time, criticisms about rigid targets and inefficiencies grew. Eventually, a new planning paradigm emerged, dismantling the Planning Commission and replacing it with a more flexible institutional approach. This shift aims to promote cooperative federalism and encourage bottom-up policy initiatives. From an exam perspective, students should note the main objectives and outcomes of each Five-Year Plan, why the old model was replaced, and how the current framework focuses on strategic, medium-term policy agendas.
What is meant by “monetary policy”?
View QuestionWhat does the term “elasticity of demand” measure?
View QuestionWhat is the significance of “Purchasing Power Parity” (PPP)?
View QuestionWhich of the following statements best defines Gross Domestic Product (GDP)?
View QuestionWhat is the meaning of “disguised unemployment”?
View QuestionWhat is the term for the price at which demand and supply in a market are equal?
View QuestionWhich term refers to an economy that has elements of both capitalism and socialism?
View QuestionWhich of the following factors is NOT included in the calculation of Human Development Index (HDI)?
View QuestionWhich of the following is a feature of monopolistic competition?
View QuestionWhich of the following is NOT an example of a direct tax?
View Question