Economic Planning , Five Year Plans and NITI Aayog

ECONOMIC PLANNING

Economic planning is the process of allocating physical as well as human resources among different uses. For this, detailed schemes are prepared. Through economic planning, endeavors are made to achieve the stipulated objectives.

By adopting a proper planning, growth is achieved  and nations as well as citizens get benefit and the standard of living raise. In fact, the objectives of economic planning are to abolish poverty, illiteracy, and ignorance and opening new avenues.

Planning commission was constituted on 15 the March 1950.  Now it is renamed and restructur…