ECONOMIC DEVELOPMENT AND PLANNING

Concept of planning

Planning is defined in different context, which has no universally accepted definition. Some has
defined in system, geographical, time dimension, and level of governance perspective.

Planning may be regional, national, local and so on found in geographic prospective planning. In
time dimension, we find the long term, short term and medium term planning.

Planning is done to achieve certain objectives – the broad objective is to achieve the social ends
(aims). The objective of the society, needs of society is the universal. To maintain the economic
balance there must be two types of planning they are as follows:

a. Macro planning: This is the planning which cover whole areas

b. Sectoral planning: This is the planning which covers certain sectors

According to the H. D. Dickinson, “Economic planning is the making of major economic decision –
what and how much is to be produced, where to be produced, 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.”

According to Todaro, “Economic planning may be described as deliberate government attempt to

coordinate economic decision making over long run and to influence, direct and in some cases
even control level and growth of a nation principle variables (income, consumption, employment,
investment, saving, exports, imports, etc.) in order to achieve of pre-determined set of
development objectives.”