Our stage is an age of planning. In every country there is planning in education, in agriculture, in commerce and in everything else that concerns the collective life of the people of all the walks of national life in which planning is considered to be necessary the sphere of economy comes first. There is in fact, no country in the world today, which has not an economic plan of its own.
Broadly speaking, economic planning utilization of available resources effectively for well defined objective during a given period of times. this definition lays stress on three things: use of resources: well defined objectives: and a period of time. In simple words economic planning means an over all programme or production and distribution of national wealth. In this character, this may wary from country are always less than the needs of the people. So we need carefull utilization of these resources. We have to decide what and how much is to be produced . We have to adopt a balanced growth strategy. For increase in production and growth more industries are to be set up.
As for the objectives of planning, they are to increase the size of the national income in the interest of the whole nation, to achieve full employment, and to reduce the gap between the rich and the poor. The ultimate aim of the plannings to provide for the people for social services like Housing, Clothing, transport, Education and medicine. The time for a plan to be completed should neither be too long nor to be too short.
Economic planning for many reasons. First, It secure adequate wages and improved conditions of life for the workers. In enhances the productive efficiency of the laborers. It creates them in a spirit of cooperation with owner. These conditions are essential for maximum production.
Broadly speaking, economic planning utilization of available resources effectively for well defined objective during a given period of times. this definition lays stress on three things: use of resources: well defined objectives: and a period of time. In simple words economic planning means an over all programme or production and distribution of national wealth. In this character, this may wary from country are always less than the needs of the people. So we need carefull utilization of these resources. We have to decide what and how much is to be produced . We have to adopt a balanced growth strategy. For increase in production and growth more industries are to be set up.
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As for the objectives of planning, they are to increase the size of the national income in the interest of the whole nation, to achieve full employment, and to reduce the gap between the rich and the poor. The ultimate aim of the plannings to provide for the people for social services like Housing, Clothing, transport, Education and medicine. The time for a plan to be completed should neither be too long nor to be too short.
Economic planning for many reasons. First, It secure adequate wages and improved conditions of life for the workers. In enhances the productive efficiency of the laborers. It creates them in a spirit of cooperation with owner. These conditions are essential for maximum production.