Question

Which of the following statements is/are correct regarding a systematic economic planning?

• A. Economic planning helps in the appropriate utilisation of resources for the welfare of the people.
• B. Economic planning is possible only in socialist economies.
• C. India adopted a mixed economy model after independence and opted for economic planning.
• D. The sole aim of economic planning is to attain economic growth.

Answer 1

Answer: (A), (C)

India adopted a mixed economy model after independence and opted for economic planning.

Economic planning helps in the utilisation of resources for the welfare of the people in a systematic manner. After independence, India adopted a mixed economy model and started economic planning in terms of the Five-Year Plans.