Planning Commission was replaced by NITI Aayog in:

2015. NITI Aayog replaced it in 2015.

The ex-officio chairman of the Planning Commission was the:

Prime Minister. The Prime Minister was the ex-officio chairman.

'Planning is a conscious and deliberate choice of economic priorities by some public authority' was said by:

Barbara Wootton. This is Mrs. Barbara Wootton's definition.

Maharashtra State Board · HSC Commerce · Class 11 (Std XI)

Class 11 Economics Chapter 10: Economic Planning in India

Short notes, key concepts, quick revision and practice MCQs with answers

Economic planning is a time-bound programme to achieve objectives using available resources under a planning authority. The chapter covers its meaning, features and India's planning institutions.

Key concepts: Economic Planning in India

Meaning: Conscious and deliberate choice of economic priorities by a public authority (Barbara Wootton); H.D. Dickinson stresses deciding what, how much and for whom to produce.
Planning Commission: Established in 1950 with the Prime Minister as ex-officio chairman. Replaced by NITI Aayog in 2015.
Features: Central planning authority, survey of the economy, objectives, priorities and targets, resource mobilisation, plan period, evaluation, co-ordination and flexibility.
Plan period: Generally five years in India.
Mobilisation of resources: Through taxation, domestic savings, deficit financing, public debt and external assistance.

Quick revision: important points

NITI = National Institution for Transforming India.
Priorities are set according to the importance of each sector.
Planning is a continuous process with mid-term appraisals.

Practice MCQs with answers

The Planning Commission of India was established in:
1. 1947
2. 1950
3. 1965
4. 1991
Show answer
Answer: B. 1950
It was set up in 1950.
Planning Commission was replaced by NITI Aayog in:
1. 2005
2. 2010
3. 2015
4. 2020
Show answer
Answer: C. 2015
NITI Aayog replaced it in 2015.
The ex-officio chairman of the Planning Commission was the:
1. President
2. Prime Minister
3. Finance Minister
4. RBI Governor
Show answer
Answer: B. Prime Minister
The Prime Minister was the ex-officio chairman.
Plan period in India is generally:
1. 1 year
2. 3 years
3. 5 years
4. 10 years
Show answer
Answer: C. 5 years
Five-year plans.
'Planning is a conscious and deliberate choice of economic priorities by some public authority' was said by:
1. Barbara Wootton
2. Alfred Marshall
3. Kautilya
4. Samuelson
Show answer
Answer: A. Barbara Wootton
This is Mrs. Barbara Wootton's definition.

All Class 11 Economics chapters

Chapter 1: Basic Concepts in Economics
Chapter 2: Money
Chapter 3: Partition Values
Chapter 4: The Economy of Maharashtra
Chapter 5: Rural Development in India
Chapter 6: Population in India
Chapter 7: Unemployment in India
Chapter 8: Poverty in India
Chapter 9: Economic Policy of India since 1991
Chapter 10: Economic Planning in India

Class 11 Economics notes: all chapters