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The Indian Development Planning Era:

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Issue:

Miscellaneous

 

Written by:

Tommy R

 

Date added:

May 30, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

19 / 5151

 

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3458 times

 

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Introduction A planned economy is an economic system with a central or overarching body that exercises control over the economy. The concept was a common feature of many Socialism-inspired economies including India and its most extensive form is referred to as a command or centrally planned economy...
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The model gained prominence mainly because of its adoption by the erstwhile Soviet Union and later on during the ‘Great Leap Forward’ by China. The anti-thesis of the capitalist-backed ‘laissez-faire’ model, it is currently practiced actively by very few nations, including Cuba, Myanmar & North Korea...
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