Planning in India focused at realising a high rate of growth of output in the long term. A basic assumption was that shortage of capital goods in relation to employable persons constituted a fundamental constraint on growth in the economy. Therefore the planning process made no focus on economic growth was viewed as essential for improving the employment situation. Which are the following is best implied in the given passage?
Approach to employment in economic planning.
The passage describes how Indian planners thought about employment: output growth was the main goal, capital shortage was seen as the basic constraint, and growth itself was treated as the route to better employment.
It does not propose a separate employment strategy, nor does it discuss employment growth and its limits as such; its whole focus is on the way planning treated the employment question.
So the idea best implied is the approach that economic planning in India adopted towards employment.
Hence, Approach to employment in economic planning..
Important Questions from Economic Reforms
- The following items consist of two statements, Statement I and Statement II Examine these two statements carefully and select the correct answer using the code given below :
Statement I: Dadabhai Naoroji argued that what was being drained out was 'potential surplus' that could generate more economic development in India if invested in India
Statement II: Imperialists believed that India was brought into the large capitalist world market and that was in itself a progress towards modernization - Which one of the following statements about the Colonial economy is NOT correct?
