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Question

In India, _________ was the final approval authority for the five year plans.

The correct answer is
National Development Council

Understanding India's Five-Year Plans Approval

The question asks to identify the final approval authority for the Five-Year Plans in India. These plans were crucial documents outlining the country's socio-economic development goals and strategies for specific periods.

Role of the National Development Council

The National Development Council (NDC) played a pivotal role in India's planning process. It served as the apex body responsible for approving the Five-Year Plans.

  • The Planning Commission drafted the plans.
  • These draft plans were then presented to the National Development Council for final consideration and approval.
  • The NDC comprised the Prime Minister, Union Cabinet Ministers, Chief Ministers of states, and administrators of Union Territories.
  • Its approval signified the endorsement of the plan by both the central government and the state governments, making it the ultimate approval authority.

Why NDC Was the Final Authority

The structure of the National Development Council ensured that national plans considered the needs and aspirations of all states. Its final approval was essential because:

  • It represented a consensus between the center and the states on development priorities.
  • The successful implementation of the Five-Year Plans required cooperation from the states, which the NDC's approval helped foster.
  • It acted as the highest executive body for development planning in India.

Therefore, the National Development Council was the final approval authority for the Five-Year Plans.

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Important Questions from Fundamentals of Economy

  1. The meaning of _______ is freedom for economic decisions, which means that all the producers, owners and consumers of factors of production are free to take their decisions to promote their self-interest.

  2. The problem of choice arises on account of the pressure of three interrelated facts, viz, human wants are unlimited, means required to satisfy these wants are limited and ____.

  3. "What to produce?" is a basic problem faced by an economy under which of the following central problems?

  4. In which type of economy social justice is accorded higher priority than profit maximization?

  5. Which industry is also known as basic industry?

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