Page 50 - DECO303_INDIAN_ECONOMY_ENGLISH

Unit 3: Planning and Economic Development in the Era of Globalisation

The Commission argued explicitly in the Third Plan that as national income increased in Notes
response to investment and development outlay, the demand for labour would
automatically rise and more employment would the created.
Dr A.PJ. Abdul Kalam, being the President of India, emphasized the adoption of PURA
(providing Urban Amenities in Rural Areas) to eradicate poverty from India.

In his address to the Food Security Summit on 5th February 2004, he outlined the concept
and strategy of PURA as the lever of economic upliftment of the villages.

3.4 Keywords

Economic Planning: It refers to a coordinating mechanism outside the mechanisms of the market.

Fiscal Policy: Government spending policies that influence macroeconomic conditions.
LPG: Liberalisation, Privatisation and Globalization.
Planning Commission: A commission delegated to propose plans for future activities and
developments.
Poverty: The state of being inferior in quality or insufficient in amount.
PURA Model: Providing Urban Amenities in Rural Areas.

Social Injustice: Social injustice is a relative concept about the claimed unfairness or injustice of
a society in its divisions of rewards and burdens and other incidental inequalities based on the
user’s worldview of humanity.

Unemployment: Unemployment occurs when a person who is actively searching for employment
is unable to find work.

3.5 Review Questions

1. Explain the objectives of economic planning in India.

2. Describe the development strategy in India.
3. Interpret the models of economic development.
4. Discuss the PURA model.

5. Analyse the assessment of PURA model of rural development.
6. Write a short note on economic planning and social justice.
7. “Unemployment and under-employment are important causes of poverty in India.”
Comment.
Answers: Self Assessment

1. Unplanned 2. economic plans
3. Reduction of inequalities 4. better-off
5. PURA 6. Eleventh Plan
7. On-going programmes 8. Economic development

9. Upliftment 10. 260
11. GDP 12. LPG

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