GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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One of the common goals of five year plans is ‘growth’. What does the growth imply?
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A large stock of productive capital
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A large size of supporting services like transport and banking
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An Increase in the efficiency of productive capital and services
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All of the above
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Explanation:
Detailed explanation-1: -This is the first and the most basic goal of an economic plan. Growth in terms of an economy focuses on the increase of the Gross Domestic Product (GDP) of the country. GDP is a way to measure the growth of an economy.
Detailed explanation-2: -Five-Year Plans, method of planning economic growth over limited periods, through the use of quotas, used first in the Soviet Union and later in other socialist states.
Detailed explanation-3: -(a) Economic Growth: (b) Attaining Economic Equality and Social Justice: (c) Achieving Full Employment: (d) Attaining Economic Self-Reliance: (e) Modernisation of Various Sectors: (f) Redressing Imbalances in the Economy:
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