Define a plan Economics CBSE Class 11 ncert

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Define a plan. - Economics CBSE Class 11 ncert

Book: Indian Economic Development
Chapter 2: Indian Economy 1950-1990
 (NCERT textbook questions)


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A plan specifies the set of objectives to be achieved within a specified period of time. It shows the means and ways to allocate available resources in an optimum manner in different developmental activities of a country.
The duration of plans in India is of five years and is called a five year plan. The five year plan has been adopted from the former Soviet Union, the pioneer in economic planning. The first five year plan was introduced in April 1951.


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