Indian planning since 1951: Objective and Achievements.

First Plan (1951 – 56) Target Growth : 2.1 % Actual Growth 3.6 % It was based on Harrod-Domar Model. Influx of refugees, severe food shortage & mounting inflation confronted the country at the onset of the first five year Plan. The Plan Focussed on agriculture, price stability, power and transport It was a successful … Read more

National Income – Measurement and composition

National Income The study of National Income is important because of the following reasons: To see the economic development of the country. To assess the developmental objectives. To know the contribution of the various sectors to National Income. Internationally some countries are wealthy, some countries are not wealthy and some countries are in-between. Under such … Read more

Impact of globalization on Indian society

Globalization essentially means integration of the national economy with the world economy. It implies a free flow of information, ideas, technology, goods and services, capital and even people across different countries and societies. It increases connectivity between different markets in the form of trade, investments and cultural exchanges. The concept of globalization has been explained … Read more

REGULATORY GOVERNANCE      

Regulation refers to “controlling human or societal behaviour by rules or regulations or alternatively a rule or order issued by an executive authority or regulatory agency of a government and having the force of law”. Regulation covers all activities of private or public behaviour that may be detrimental to societal or governmental interest but its … Read more

Decentralized planning

Decentralized Planning is a type of planning where local organisations and institutions formulate, adopt, execute actions and supervise the plan without interference by the central body. Decentralized planning in the State operated mainly through the following institutions and instruments; Grama Sabha (GS): People’s participation in decentralization was sought to be ensured mainly through meetings of … Read more

State Finance Commission

The State Finance Commissions are required to recommend financial support from the state and principles for determination of taxes, tolls and fees that could be assigned to or appropriated by the local bodies Article 243I of the Indian Constitution prescribes that the Governor of a State shall, as soon as may be within one year … Read more

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