ECONOMIC PLANING IN INDIA Economic planning actually as has no definite and

universally accepted definition. Generally , this concept is

INRODUCTION: used to depict the well-managed and rational economic
system in which all economic activities are managed
India achieved independence in 1947. From that time efforts
according to envisaged goals and targets with the aim of
have been made to slove people’s problems in a Sovereign
achieving maximum social welfare. According to
Indian republic through a system of federal parliamentary
Jawaharlal Nehru,
democracy. Political independence has no meaning without
economic prosperity. Planning was undertaken to sustain
political and generate economic prosperity.
OBJECTIVES OF ECONOMIC PLANNING
Prof. Lionel Robbins considers economic planning as
the nectar of economic world. According to him, Planning objectives refer to long-term objective to
“Economic planning is the greatest panacea of our age. be achieved over a period of twenty years. It is also
Economic planning is only a means of realizing the ideals called ‘perspective plan’. The basis of perspective plan
of a welfare state.” is the five year plan.

All the economies of the world today, have been Main planning objectives are:
endeavoring to achieve economic development through
economic planning. The controversy today is not whether
economic planning should be followed or not, but what
should be the objective and the objective and the
nature if economic planning. In this connection, Prof.
Lionel Robbins has correctly remarked, “The issue is
not between a plan and no plan; it is between
different kinds of pans”. No doubt, the nature , the
objective, and the modes of achievement of the goals
may be different in different countries while adopting the
technique of planning.

MEANING AND FEATURES OF ECONOMIC

PLANNING
“Planning is a prudent, rational and scientific
system according to which, we determine our
economic and social objectives and work hard to
achieve them.”

Planning means ex-ante coordination and

utilization of available resources in an economy to
achieve certain pre-specified social and economic
objectives in a time bound programme. Jawaharlal
Nehru puts it as, “Economic planning does not simply
mean making a list of activities to be followed, nor it is
political idealism. It is one of the most popular creed of
modern times. It is a superior way of developing an
economy. It is essential decisions- by the conscious
decision of a determinate authority on the basis of
comprehensive survey of the economic system as a
whole.”