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.
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 structure of the National Development Council ensured that national plans considered the needs and aspirations of all states. Its final approval was essential because:
Therefore, the National Development Council was the final approval authority for the Five-Year Plans.
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.
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 ____.
"What to produce?" is a basic problem faced by an economy under which of the following central problems?
In which type of economy social justice is accorded higher priority than profit maximization?
Which industry is also known as basic industry?