Q. Which of the following is/are features of imperative planning?
1.Numerical targets of growth and development are set by the plan.
2.No state control over the ownership rights of resources.
3.Clear price mechanism with all economic decisions.
Select the correct answer from below given codes:
Answer: A
Notes:
Explanation: Basic features of imperative planning are as under:
- Numerical (i.e., quantitative) targets of growth and development are set by the plan. As for example, five lakh tonnes of steel, two lakh tonnes of cement, 10,000 kms of national highways, 5,000 primary schools, etc., will be produced/built in the coming 5 or 6 years.
- As the state controls the ownership rights over the resources, it is very much possible to realize the above-cited planned targets.
- Almost no role for the market, no price mechanism with all economic decisions to be taken in the centralized way by the state/government.
- No private participation in the economy, only the state plays the economic role.
Source: Ramesh Singh
