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5 Year Plan
Major bodies behind the making of 5 year plans
i. Planning commission of India
ii.National Planning council
iii.National Development Council and state planning
commissions
Economy of India is based in part on planning
through its 5 year plans
Scope of its work
1.
2.
3.
4.
5.
6.
Planning Commission
Make assessment of will
material, capital, human
resources
Plan for effective and balanced utilization of
countrys resources
Prioritize, define stages and propose allocation of
resources
Indicate factors tending to retards economic
development
Nature of machinery
Appraise from time to time the progress of each
stage and recommend adjustments
BUDGET
How is it prepared?
1.
2.
3.
4.
5.
6.
7.
8.
How is it passed?
2 stage process
1.General discussion
2.Considering of demands by standing committees
Overview of the
following issues
State of the Indian economy
Challenges, policy responses, and medium-term outlook
Fiscal policy and monetary management
Financial intermediation and the role of markets
External sector, balance of payments, and trade
ECONOMIC SURVEY
FOR
BUDGET 13-14
Fiscal
Deficit
to time and to recover Rs 9.60 per litre loss they incur on the
fuel.