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difference between planning by inducement and planning by direction?
What do you think is the role of budget of the government of
the difficulties in operating such an economy side by side with the competitive
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able achieve Agra agricultural production backward areas backward countries basic basis budget capita income capital accumulation capital formation capital-output ratio cent centrally planned economy commodities consumers consumption cost crores Delhi developed countries developing economy distribution economic development economic growth efficiency employment expenditure exports factors of production favour Five Year Plan foreign growth of population hence important increase India industrialisation industries labour means of production ment mixed economy monetary national income nationalisation organisation output planned economy planners POINTS TO REMEMBER possible private enterprise private sector problem productive capacity profit programme projects public sector public utilities rate of growth rate of savings raw materials role savings and investment scarcity of capital SELECT READINGS shadow prices shortage social steel surplus surplus labour taxation techniques of production terms of trade theory Third Plan tion under-developed economies underdeveloped countries utilised welfare workers