Economic planning refers to the major economic decisions taken by the government of a country with regard to the production and distribution of goods. The questions of “what to produce” and who would be the end consumers of the produced goods are decided by economic planning. It is formulated on the basis of study, survey and analysis of the needs and wants of the citizens. It highlights the policy and objectives the economy and formulates strategies to achieve them and guides the economy towards development. Sometimes this planning is to carried out to exercise a power over the private enterprises of a country, so that they may not sell the products in high prices that won’t be affordable for the diverse economic sections present in the society and thereby make the economy only money oriented rather than welfare oriented. All these factors make economic planning important. The following presentation will tell you more about Economic Planning.

Gokul JL

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