Role of Planning in Economic Growth

Planning has undoubtedly promoted emergence in many countries. only when post-war history reveals that there absorb been many to a greater extent failures than successes in carrying out nurture plans. Indeed, among developing nations with some kind of mart economy and a sizeable private sector, only sensation or two countries seem to have been consistently prospering in carrying out plans. Except for short periods, most countries have failed to realize even modest income and other targets. What is even more disturbing that the situation seems to be worsening instead of improving. In Asia where countries had greater experience than those in other regions the rates of outgrowth have varied a great deal. The situation is non very different in other countries. A development plan, however, is not the same as development planning. Planning as a process involves the application of rational system of choices among operable courses of investment and other development possibilities based on a consideration of economic and social costs and benefits. These may be or may not be put into a written plan. Those who equate a development plan with development planning are many. A plan can walkover an important part in the planning process when it makes open the basis for planning policies and measures.

But if a plan is inclined(p) before the process has begun in earnest or is unavailing itself to generate the process, it is likely to have little significance for development. The yard teaches that the best long-run method of getting people to guess in such a way as to arrive at plan objectives is to make it profitable for them. Where governments have replaced administrative controls by economic incen­tives, the result has usually accelerated economic activity. In Pakistan, for example, government officials agree that administrative restraints hampered industrial growth during the front Plan Period. Since the early 1940s when Yugoslavia replaced centralized control based on the Soviet model with... If you want to get a skilful essay, order it on our website: Orderessay

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