Q.Distinguish between centralised planning and decentralised planning.

Inclusive growth is growth whose benefits reach all people — especially the poor and weaker sections — through jobs, equal opportunity and access to education, health and basic services, reducing poverty and inequality.

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Economic growth means a steady rise in a country's real output (national income) or real per capita income over time. It is quantitative and does not by itself guarantee better welfare or distribution.

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Economic growth means a steady rise in a country's real output (national income) or real per capita income over time. It is quantitative and does not by itself guarantee improvements in welfare or distribution.

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A rolling plan is a flexible plan revised every year — one completed year is dropped and a new future year is added, so a plan always exists for a fixed number of years ahead. India adopted a rolling plan during 1978 to 1980; the idea is associated with the economist Gunnar Myrdal.

A rolling plan is studied as a form of economic planning in the AP Intermediate 2nd-year Economics course (aligned with the NCERT/CBSE commerce curriculum).

Meaning and features. Unlike a fixed Five Year Plan, which runs for a set period without change, a rolling plan is reviewed and revised every year. Each year, the year that has just been completed is dropped and a fresh year is added at the end, so that the plan always covers the same number of years looking forward. The targets and allocations are adjusted annually in the light of actual performance and changing economic conditions. This gives the plan greater flexibility and allows it to respond to new situations. The concept is associated with the econo …