Q. After Independence, India adopted the concept of economic planning. Which of the following statements does not capture the spirit of the concept of economic planning?

To utilize scarce resources efficiently.

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To protect the national interest in the age of globalization.

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To implement the capitalist model of economic development.

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To cooperate and coordinate with states in an efficient manner.

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Solution

The correct option is C To implement the capitalist model of economic development.
Explanation:

Planning was introduced to implement a socialist model of development. The idea of economic planning for five years was taken from the Soviet Union under the socialist influence of first Prime Minister Pt. Jawahar Lal Nehru.

Reasons for economic planning:

India had fallen into a low-level equilibrium trap

Scarcity of resources and their efficient utilization.

To better cooperate and coordinate with states

Social justice

To protect the national interest in the age of globalization.

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