Class 11 Economics - Indian Economic Development - Chapter Indian Economy 1950-1990 NCERT Solutions | Explain ‘growth with equity’
Explain ‘growth with equity’ as a planning objective.
Both growth and equity are the two important aspects of India's five year plans. While growth refers to the increase in GDP over a long period of time equity refers to an equitable distribution of GDP so that the benefits due to higher economic growth are shared by all sections of population. Equity implies social justice. Growth itself is desirable but growth in itself does not guarantee the welfare of people. Growth is assessed by the market value of goods and services (GDP) and it may be possible that the goods and services that are produced may not benefit the majority of the population. In other words, only a few with a high level of living and money income may get the share of GDP. Hence, growth with equity is a rational and desirable objective of planning. This objective ensures that the benefits of high growth are shared by all the people equally and, hence, this not only leads to reduction of inequality of income, poverty promotion of egalitarian society but also enables everyone to be self-reliant. Therefore, to conclude, it can be said that growth with equity is the most important objective of economic planning.
More Questions From Class 11 Economics - Indian Economic Development - Chapter Indian Economy 1950-1990
- Q:-
Why was the public sector given a leading role in industrial development during the planning period?
- Q:-
Match the following:
1. Prime Minister
2. Gross Domestic Product3. Quota
4. Land Reforms
5. HYV Seeds
6. Subsidy
A. Seeds that give large proportion of output
B. Quantity of goods that can be importedC. Chairperson of the planning commission
D. The money value of all the final goods and services produced within the economy in one year.
E. Improvements in the field of agriculture to increase its productivity
F. The monetary assistance given by government for production activities.
- Q:-
What is marketable surplus?
- Q:-
What is the Green Revolution? Why was it implemented and how did Does it benefit the farmers? Explain in brief.
- Q:-
Why was it necessary for a developing country like India to follow self-reliance as a planning objective?
- Q:-
Why and how was the private sector regulated under the IPR 1956?
- Q:-
Does modernisation as a planning objective create contradiction in the light of employment generation? Explain.
- Q:-
Why should plans have goals?
- Q:-
Why did India opt for planning?
- Q:-
Define a plan?
Popular Questions of Class 11 Economics - Indian Economic Development
- Q:-
What was the focus of the economic policies pursued by the colonial government in India? What were the impacts of these policies?
- Q:-
What are the two major sources of human capital in a country?
- Q:-
What do you mean by rural development? Bring out the key issues in rural development.
- Q:-
Who is a worker?
- Q:-
Explain the term ‘infrastructure’.
- Q:-
What is meant by environment?
- Q:-
Why are regional and economic groupings formed?
- Q:-
Why were reforms introduced in India?
- Q:-
Why calorie-based norm is not adequate to identify the poor?
- Q:-
Name some notable economists who estimated India’s per capita income during the colonial period?
Recently Viewed Questions of Class 11 Economics - Indian Economic Development
- Q:-
Establish the need for acquiring information relating to health and education expenditure for the effective utilisation of human resources.
- Q:-
Do you think various measures taken by the government to improve agricultural marketing are sufficient? Discuss.
- Q:-
In your view, is it essential for the government to regulate the fee structure in education and health care institutions? If so, why?
- Q:-
Do you think the navaratna policy of the government helps in improving the performance of public sector undertakings in India? How?
- Q:-
Explain the supply-demand reversal of environmental resources.
- Q:-
Bring out the importance of animal husbandry, fisheries and horticulture as a source of diversification.
- Q:-
Explain the Great Leap Forward campaign of China as initiated in 1958.
- Q:-
Why calorie-based norm is not adequate to identify the poor?
- Q:-
An establishment with four hired workers is known as (formal/informal) sector establishment.
- Q:-
Define the liberty indicator. Give some examples of liberty indicators.
- All Chapters Of Class 11 Economics - Indian Economic Development
- All Subjects Of Class 11