India’s commitment towards development through planning had begun to diminish much before the Planning Commission was formally dismantled in 2014. The diminishing intent towards planning was after the LPG reforms of 1991. As India embraced capitalism with both arms, the state-led planning was sidelined. Various international examples outline the significance of planning in the modern world.
Influenced by the Soviet Union India adopted 5 year plans to give a direction for the economy and realise the goals of modern India. These plans made a significant contribution towards empowering India. Planning in India: India’s planned approach led to the setting up of public sector units (PSUs) in diverse areas of manufacturing; research
Post-Independence, India chose the path of state socialism, while China went communist. To what extent, this affected the course of economic development in the two countries?
India got its independence in 1947 and the Peoples Republic of China came to existence in 1949. India followed the path of socialism, and China embraced communism. Today both India and China are among the fastest growing economies of the world. India’s encounter with Socialism: India was the poster child of socialism in third world
Floriculture refers to the cultivation and management of ornamental, especially flowering plants. Potential of Floriculture in India: Floriculture has the great potential to develop and flourish in India due to the following opportunities: India’s location in tropical and subtropical zone provides for varied agro-climatic conditions. This varies agro-climatic conditions helps in growing any kind of
GST Council is a constitutional body which is mandated to be the final decision-making authority on all GST-related matters. There are reports that GST council is considering an amnesty scheme to provide an exit route to ‘nil’ filers and non-filers under the indirect tax framework. GST Returns: Every person registered under GST will have to