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Free Study Material For RRB Examination: General Knowledge (Indian Economy)

Free Study Material For RRB Examination

Subject : General Knowledge (Indian Economy)

History Of Planning In India

  •  First attempt to initiate economic planning in India was made by Sir M.Visvesvarayya, a noted engineer and politician in 1934 through his book ‘Planned Economy For India’.

  •  In 1938 ‘National Planning Commission’ was set-up under the chairmanship of J.L. Nehru by the Indian National Congress. Its recommendations could not be implemented because of the beginning of the Second World War and changes in the Indian political situation.

  •  In 1944 ‘Bombay Plan’ was presented by 8 leading industrialists of Bombay.

  •  In 1944 ‘Gandhian Plan’ was given by S. N. Agarwal.

  •  In 1945 ‘People’s Plan’ was given by M. N. Roy.

  •  In 1950 ‘Sarvodaya Plan’ was given by J. P. Narayan. A few points of this plan were accepted by the Government.

The Planning Commission

  •  The Planning Commission was set up on March 15, 1950 under the chairmanship J.L. Nehru, by a resolution of Union Cabinet.

  •  It is an extra-constitutional, non-statutory body.

  •  It consists of Prime Minister as the ex-officio Chairman, one deputy-Chairn appointed by the PM and some full time members.

  •  The tenure of its members and deputy chairman is not fixed. There is no definition of its members also. They are appointed by the Government on its c discretion. The number of members can also change according to the wishes of Government.


  •  Assessment of material, capital & human resources of the country.

  •  Formulation of plans for the most effective & balanced utilization of country’s resources.

  •  To determine the various stages of planning and to propose the allocation of resources on the priority basis.

  •  To act as an advisory body to the Union Government.

  •  To evaluate from time to time the progress achieved in every stage of the plan and also to suggest remedial measures.

  •  To advise the Centre and the State Governments from time to time on special matters referred to the Commission.

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