Date : 23.4.2020
Sub : Economics
Class : 12
Day : 3
Period : 5
Time : 10:45am- 11:25am
Learning Objectives
Sub : Economics
Class : 12
Day : 3
Period : 5
Time : 10:45am- 11:25am
Learning Objectives
- Students will understand what ie the meaning of short term objectives
- Students will understand what ie the meaning of long term objectives
- Objectives of the five year plan
- Five year plans are the long term objectives
A very good morning students
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Today we enter the second chapter of Indian Economic Development ( Common Goals od Five Year Plans)
The following is a quick note on today's learning:
Post-independence, one of the biggest challenges the Indian leaders and government faced was the state of the Indian Economy. This topic gives an overview of the country between 1950 - 1990. We started the development of the country with the establishment of the Planning Commission and introduction of the Five Year Plans. In the next four decades, they brought about systematic changes to agriculture, trade, and industry.
Economic Planning: Means utilisation of country’s resources in different development activities in accordance with national priorities.
Goals of Planning in India
a. Long Term Goals
b. Short Term Goals (To be achieved over a period of five years)
LONG TERM GOALS / OBJECTIVES OF PLANNING
A. Modernisation – Adoption of new technology and changes in social outlook
B. Self reliance – Reduction in dependence on imports.
C. Economic Growth – Increase in the aggregate output of Goods & services.
D. Equity – Reduction in inequality of income and wealth
E. Full employment – Refers to a situation when all the people in the working age group are actually engaged in some gainful employment.
SHORT TERM GOALS / OBJECTIVES OR OBJECTIVES OF FIVE YEAR PLANS
Short term objectives vary from plan to plan depending on current needs of the country. For example first plan (1951-56) focused on higher agricultural production while in second plan (1956-61) shifted the focus from agriculture to Industry. In India growth and equity are the objectives of all the five year plans. The goal of the last five year plan (12th, 2012-17) was Inclusive development
The Planning commission with its FYPs has been now replaced by the NITI Aayog.
Post-independence, one of the biggest challenges the Indian leaders and government faced was the state of the Indian Economy. This topic gives an overview of the country between 1950 - 1990. We started the development of the country with the establishment of the Planning Commission and introduction of the Five Year Plans. In the next four decades, they brought about systematic changes to agriculture, trade, and industry.
Economic Planning: Means utilisation of country’s resources in different development activities in accordance with national priorities.
Goals of Planning in India
a. Long Term Goals
b. Short Term Goals (To be achieved over a period of five years)
LONG TERM GOALS / OBJECTIVES OF PLANNING
A. Modernisation – Adoption of new technology and changes in social outlook
B. Self reliance – Reduction in dependence on imports.
C. Economic Growth – Increase in the aggregate output of Goods & services.
D. Equity – Reduction in inequality of income and wealth
E. Full employment – Refers to a situation when all the people in the working age group are actually engaged in some gainful employment.
SHORT TERM GOALS / OBJECTIVES OR OBJECTIVES OF FIVE YEAR PLANS
Short term objectives vary from plan to plan depending on current needs of the country. For example first plan (1951-56) focused on higher agricultural production while in second plan (1956-61) shifted the focus from agriculture to Industry. In India growth and equity are the objectives of all the five year plans. The goal of the last five year plan (12th, 2012-17) was Inclusive development
The Planning commission with its FYPs has been now replaced by the NITI Aayog.
Sending you the video link to make your understanding better
Please go through theb reading material sent
Your assignment
1)Fill in the blanks
- Increase in productive capacity level of an economy is called _________________
- Adoption of new technologies and putting necessary changes in ancient rituals is called _____
- People who are willing and able to work at an existing wage rate and get work is called _____
2) Write down the meanings of all the five common Goals of the five year plans.
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