wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Which of the following options incorrectly define economic planning?

A
A process under which the set objectives of economic development are to be achieved in a determined period of time.
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
A process under which the set objectives of economic development are to be achieved in a year.
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C
A process under which the set objectives of social development are to be achieved in a determined period of time.
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
D
A process under which the set objectives of political development are to be achieved in a determined period of time.
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
Open in App
Solution

The correct option is D A process under which the set objectives of political development are to be achieved in a determined period of time.
Economic planning is a process under which the set objectives of economic development are to be achieved in a determined period of time.

In India, this was done by the Planning Commission. The Planning Commission was set up in 1950 and put forth numerous Five-Year Plans with objectives like reduction in poverty and increase in agricultural and industrial development to increase economic development.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Let's Solve a Few! Part 1
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon