The principal reason why national, economic planning is still being pursued inspite of embracing a market economy since 1991 is that
Options
(a)it is a Constitutional requirement
(b)the vast quantity of capital already deployed in the public sector needs to be nurtured
(c)FiveYear Plans can continue to provide a longterm perspective to the economy in marketfriendly fashions
(d)the market economy is mainly confined to industry and commerce and central planning in agriculture is necessary
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Class 11Liberalisation, Privatisation and Globalisation: An Appraisal— NCERT Economics, Chapter 3. In 1991 India faced an external debt crisis: foreign exchange reserves fell below two weeks of imports, prices rose, and no one would lend. Rooted in the fiscal and…
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