What are the aims of planning?
Facilitates Accomplishment of Objectives: The aim of planning is to facilitate the attainment of objectives. It focuses its attention on the objectives of the organization. It states the objectives of each department in the organization and of the enterprise as a whole.
What does macroeconomic stability mean?
The term “Macroeconomic Stability” describes a national economy that has minimized vulnerability to external shocks, which in turn increases its prospects for sustained growth.
What are functions and matters assigned to Planning Commission?
The Planning Commission consults the Central Ministries and the State Governments while formulating Five Year Plans and Annual Plans and also oversees their implementation. The Commission also functions as an advisory body at the apex level.
How does interest rate effect macroeconomics?
Higher interest rates tend to moderate economic growth. Higher interest rates increase the cost of borrowing, reduce disposable income and therefore limit the growth in consumer spending.
What are the main objectives of commission?
The main objective of the Commission is to operate efficiently with increasing the efficiency and effectiveness of the regulatory process. It needs to provide proper and proactive duty and high-level performance for serving the public reliably, safely and fairly for addressing the future needs and goals of the country.
What are the aims of Planning Commission?
The main objective of planning commission was to improve the standard of living of the ordinary citizens by optimizing the use of available human resource, production and creating employment opportunities. Today, NITI AAYOG is responsible for periodic economic assessment of resources.
What is interest rate stability?
under price stability, monetary policymakers are less com- pelled to quell inflation fears during periods of fast economic. growth by raising short-term interest rates.
What are the major macroeconomic issues?
6 Major Macro-Economic Issues
- Issue # 1. Employment and Unemployment:
- Issue # 2. Inflation:
- Issue # 3. The Trade Cycle:
- Issue # 4. Stagflation:
- Issue # 5. Economic Growth:
- Issue # 6. The Exchange Rate and the Balance of Payments:
Who is the Deputy Chairman of the Planning Commission?
The Deputy Chairman, Planning Commission, Shri Montek Singh Ahluwalia briefing the media on the outcome of the 56th meeting of the National Development Council, in New Delhi on October 22, 2011.
What were Adam Smith’s three laws of economics?
What were Adam Smith’s three natural laws of economics? the law of self-interest—People work for their own good. the law of competition—Competition forces people to make a better product. lowest possible price to meet demand in a market economy.
How do you maintain macroeconomic stability?
How to maintain macroeconomic stability and accelerate the economy
- maintaining macroeconomic stability;
- increase efficiency through attracting investment, more effective use of natural resources, infrastructure development and business climate improvement;
- increase in both the quantity and quality of human capital;
Is the board objective of Indian planning?
The main objective of Indian planning is to achieve the goal of economic development economic development is necessary for under developed countries because they can solve the problems of general poverty, unemployment and backwardness through it.
How many departments are there to implement the objectives of planning commission?
The Commission has 20 Technical Divisions and Sections which tall broadly under two groups. Namely—General Divisions and Branch of Subject Divisions. The General Divisions are concerned with the problem of overall economic and social planning, each examining some speed of aspects of these problems.
How do you stabilize the economy?
In Keynesian stabilization policy, demand is stimulated to counter high levels of unemployment and it is suppressed to counter rising inflation. The two main tools in use today to increase or decrease demand are to lower or raise interest rates for borrowing or to increase of decrease government spending.
What are the 4 basic economic problems?
Answer: The four basic problems of an economy, which arise from the central problem of scarcity of resources are:
- What to produce?
- How to produce?
- For whom to produce?
- What provisions (if any) are to be made for economic growth?