Question

Distinguish between

1. Objectives of the Tenth Five-Year Plan and Eleventh Five-Year Plan.

2. Planned economy and unplanned economy.

Answer 1

1. The following were the objectives of the 10^th plan:

1. Achieving an average growth rate of 8% and to double the per capita income.
2. Reducing inter-regional inequalities.
3. Encouraging the role of private sector while restricting the role of government to those areas where private investment is less attractive.
4. To pay special attention to the growth and development of the three major sectors of the economy, i.e. agriculture and allied activities, industries and services.

The following are the objectives of the 11^th plan:

1. Achieving a rapid growth rate that helps in the reduction of poverty and creation of employment opportunities.
2. Special emphasis on development of human resource.
3. Working towards the reduction of gender inequality.
4. Environment sustainability.

2.

Basis of Difference	Planned economy	Unplanned economy
Meaning	A planned economy is the one where the decisions regarding the investment and production are in accordance with the plans as devised by the state	An unplanned economy is the one where the decisions regarding investment and production are as purely as per the market forces.
Role of government	Major role is played by the government	Government plays only a minor role