Hayat Ashraf

The Indian economy has undergone significant transformations since gaining independence in 1947. India initially adopted a planned economy model with a focus on central planning and state intervention. However, over the years, the country has moved towards a mixed economy with elements of both planning and market-oriented approaches. Here's an overview of the Indian economy and issues related to planning: 1. Planning in India:    a. Five-Year Plans: India has implemented a series of Five-Year Plans since 1951. These plans set targets and goals for various sectors of the economy and guided resource allocation and development priorities.    b. Planning Commission: The Planning Commission (now replaced by NITI Aayog) was responsible for formulating and implementing these plans, coordinating with the central and state governments, and allocating resources. 2. Economic Liberalization:    a. Since the early 1990s, India has embraced economic liberalization polici...