Economic growth

• The goal of generating economic growth necessitates that real national income and per capita income grow at a set rate each year.
  • The measure of national income at a specific year’s price or at a constant price is known as real national income.
  • The average income of persons in the economy is known as – – – – – – – – – – – – – – – – – – – – – – – – – –
  • – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –

Increase in employment

• Employment is defined as the participation of workers in a gainful economic activity such as the production of products and services.
  • Income is generated through the production process, which employs household-provided factors of – – – – – – – – – – – – – – – – – – – – – – – – – – 
  • – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –

Reduction in inequality of income

• India is a country with a wide range of economic standards among its citizens. This suggests that India lacks consistency in terms of economic levels.
  • A major portion of India’s population is classified as impoverished and belongs to the lower-income category, whereas a small percentage of the population is extremely – – – – – – – – – – – – – – – – – –
  • – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 

Reduction in poverty

• Many people in the country do not even receive a single square meal every day. Poverty is exacerbated by a lack of jobs. Unequal distribution of national wealth and income exacerbates it.
  • Poverty is referred to as a stain on human dignity, and it has severely degraded India’s international image.
  • India is not taken seriously by developed countries because of its inability to eradicate poverty.
  • To entirely eradicate poverty from the country, effective – – – – – – – – – – – – – – – – – – – – – – – – – 
  • – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –

Modernization of the economy

• Because of India’s weak industrial and service sectors, it was the largest contributor to the country’s GDP at the time of independence and for many years afterward.
  • The occupational structure has remained tilted towards agriculture due to a lack of greater education and skill development among the populace.
  • To reverse this tendency, India’s GDP structure must be changed by boosting the quality of its human resources and developing its industries and service sector.
  • This can be accomplished through economic – – – – – – – – – – –
  • – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –

Ensuring social justice and equality

• Indian planning aspired to achieve a socialistic society as well. It can be accomplished by ensuring social fairness and equity for its – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –