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ment? Delhi 1960
the difficulties in operating such an economy side by side with the competitive
The techniques of planning in a democracy are not just readily
able achieve Agra agricultural production areas balanced growth basic basis betterment levy budget capita income capital accumulation capital formation capital goods sector capital-output ratio capitalist cent commodities consumers cost crores Delhi developing economy distribution economic development economic growth efficiency employment ensure factors of production fiscal measures Five Year Plan foreign growth of population hence important increase India industries labour means of production ment mixed economy national income nationalisation organisation output planned economy planners POINTS TO REMEMBER possible price mechanism private enterprise private sector problem productive capacity profit programme projects public sector public utilities Punjab rate of growth rate of savings raw materials role savings and investment scarcity of capital SELECT READINGS shadow prices shortage social socialist steel surplus surplus labour targets taxation techniques of production Third Plan tion under-developed economies underdeveloped countries utilised welfare workers