explain growth with equity as a planning objevtive

Asked by Vishnugangwal88 | 3rd Dec, 2019, 09:55: AM

Expert Answer:

While framing its plan India focused on achieving certain goals such as Growth, Equity, Modernisation and Self-reliance.Among them the objective of ‘growth with equity’ as a planning objective was important.Economic growth implies an increase in the country’s capacity to produce more goods and services. This growth is indicated by the increase in GDP of the country.
According to the goal of equity, every Indian should be able to meet his/her basic needs, inequality should be reduced and that the benefits of economic prosperity should reach all sections of the society.
Therefore only achieving the objective of economic growth alone will not be beneficial to the country, it is only the benefits of it is spread across the country to every section it will lead to social welfare.Keeping this in mind, the objective of ‘growth with equity’ becomes very important.

Answered by Christina | 4th Dec, 2019, 10:08: AM

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