The goals of planning the economy emphasize a steady rate of growth at about 5-6 percent per annum, a continuous and perceptible improvement in living standards in the foreseeable future. This involves a more equitable distribution of income and wealth, a balanced pattern of regional development and lesser dependence on foreign aid by pursuing policies of export promotion and import substitution and expansion of basic, heavy and defence industries with the object of building an industrial base of the economy. There is no doubt that a judicious and harmonious process of development requires a balancing of these objectives. More and more expert opinion is veering round to the view that an employment-oriented strategy of industrial development provides the best answer to the challenge of unemployment and underemployment posed to an underdeveloped economy like India. That being so, it would be worthwhile to outline the contours of an employment-oriented strategy.(1) Growth of the economy in India can happen only if there is a steady improvement in the standards of living of everyone. The industrial base of the country should be developed so as to generate employment and the country should not depend too much on foreign aid.(2) The objectives of sound planning for economic growth should consider a steady rise of national wealth and an equitable distribution of the same. Industrial development, which generates employment, may be a useful policy in achieving this objective.(3) Sound planning for economic growth involves industrial development, which will generate employment and wealth. Increased self-reliance and an equitable distribution of wealth will ensure a steady 5-6 per cent growth.(4) Planning for the growth of the economy should involve a steady annual growth and a discernable improvement in living standards. Increased self-reliance and a balanced progress as also industrial development, which generates employment, is a good policy to pursue.

Directions for questions 8 and 9: Four alternative summaries are given below each text. Choose the option that best captures the essence of the text and indicate the number corresponding with it in the box provided below each question. The goals of planning the economy emphasize a steady rate of growth at about 5-6 percent per annum, a continuous and perceptible improvement in living standards in the foreseeable future. This involves a more equitable distribution of income and wealth, a balanced pattern of regional development and lesser dependence on foreign aid by pursuing policies of export promotion and import substitution and expansion of basic, heavy and defence industries with the object of building an industrial base of the economy. There is no doubt that a judicious and harmonious process of development requires a balancing of these objectives. More and more expert opinion is veering round to the view that an employment oriented strategy of industrial development provides the best answer to the challenge of unemployment and underemployment posed to an underdeveloped economy like India. That being so, it would be worthwhile to outline the contours of an employment-oriented strategy.Growth of the economy in India can happen only if there is a steady improvement in the standards of living of everyone. The industrial base of the country should be developed so as to generate employment and the country should not depend too much on foreign aid.The objectives of sound planning for economic growth should consider a steady rise of national wealth and an equitable distribution of the same. Industrial development, which generates employment, may be a useful policy in achieving this objective.Sound planning for economic growth involves industrial development, which will generate employment and wealth. Increased self-reliance and an equitable distribution of wealth will ensure a steady 5-6 per cent growth.Planning for the growth of the economy should involve a steady annual growth and a discernable improvement in living standards. Increased self-reliance and a balanced progress as also industrial development, which generates employment, is a good policy to pursue.

The economic goal for most nations is to achieve a(n)Multiple Choicefavorable balance of trade.flat balance of payments.neutral trade position.trade deficit.economic deficit surplus.

What does a policy of export-oriented industrialization encourage most?Group of answer choicesthe consumption of high-tech foreign exports to fuel domestic industrializationmanufacturing for foreign consumption to promote domestic economic developmenteconomic development by way of foreign direct investmentdeveloped countries to reduce tariff barriers on developing countries’ exports

evaluate the impact of a declining export led growth strategy on India's economy and Employment propose a strategic measures for india to navigate these challenges and foster sustainable economic growth\

According to Rostow's stages of development, which of the following is true?Group of answer choicesDeindustrialization is accounted for in the fifth and final stage.Foreign investment is a necessary precondition for economic development in the second stage.The colonial legacy will support a ountry's economic growth.All countries will eventually pass through each of the five stages of economic development.Countries might not pass through each of the stages in a linear manner.