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Objectives of Planning
1.Increase in national income and rise in the growthrate of the economy.2.Reducing inequalities in distribution of income andother assets3.Reducing/removing poverty4.Achieving full employment.5.Attaining economic self–reliance6.Modernisation of various sectors7.Greater regional balances8.Price Stability
 
Phases of Planning
•1947- Mid 1950s: Preparatory Phase•Mid 1950s – Mid 1960s: Period of rapidindustrialisation•Late 1960s – 1970s: Focus on Agriculture•Mid 1980s – 1990: Tentative Liberalisation•1990s onwards: Globalisation and fullfledged liberalisation
 
Various Plans
•The First Plan (1952-56)•Correct the problems of the economy arising from ravages of WW-II,•Initiate all round balanced development for increasing standardsof living, removing food crisis, building up infrastructure•The Second Plan (1956-61)•Rapid industrialisation with emphasis on heavy and basicindustries•A large expansion in employment opportunities
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