Which of the following statement(s) is/are correct?
A.Only I
B.I and II
C.I and III
D.All of the above
Answer:D
Which of the following statement(s) is/are correct?
A.Only I B.I and II C.I and III D.All of the above
Explanation: According to D. Dickinson, Economic planning is, “the making of major economic decisions- what and how much is to be produced and to whom it is to be allocated by the conscious decision of a determinate authority, on the basis of a comprehensive survey of the economic system as a whole.” It could be considered the broadest possible definition of planning- Planning, under a democratic system, may be defined as the technical coordination, by disinterested experts of consumption, production, investment, trade, and income distribution, in accordance with social objectives set by bodies representative of the nation. Such planning is not only to be considered from the point of view of economics, and raising of the standard of living, but must include cultural and spiritual values, and the human side of life". According to the Planning Commission of India (now it is known as NITI Ayog), “Planning involves the acceptance of a clearly defined system of objectives in terms of which to frame overall policies".