GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Indicative
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Imperative
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Limited
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Democratic
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Detailed explanation-1: -Explanation: India’s economic planning is indicative and is guided by five-year plans. Definite goals for each sector limit it; the planning commission fixes these targets. India is a democratic country in economic planning; common goals are growth, modernization, self-sufficiency, and equity.
Detailed explanation-2: -In the second place, it co-ordinates the relation between private and public activities. Imperative planning is the planning where the formulation and implementation of the plan is made by the central planning authority. It is also known as ‘directive planning’.
Detailed explanation-3: -Indicative Planning & Imperative Planning Towards that end, the government facilitates the private sector but does not direct them in any way. In imperative planning, on the other hand, all economic activities are controlled by the state. There is complete control of the government over the factors of production.