Since the attainment of independence, India has been facing many grave problems such as poverty, growing population, unemployment, price hike etc. All these problems are linked to our economic development, which can be tackled through proper planning. The Planning Commission was instituted in 1950 to make plans for the organized development of our country. The main responsibilities of the Planning Commission are identifying the objectives of our economic policy and determining its priorities. It also sees to it that the resources are utilized to the maximum extent. It also supervises the fair distribution of produce and the benefits of development to the largest number of people.
The Planning Commission has developed nine five-year plans and six annual Plans till now. Many important changes were brought about through the first, second, third and fourth
five-year plans. Indian economy was given a national character. Many privately owned business concerns have been nationalized,
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