Aggregate Consistency of Development Plans: The Case of 7th Five-Year Plan in India
Dholakia, Ravindra H.
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The aggregate consistency of a national plan is usually judged in terms of the domestic and foreign saving rates required to achieve the given growth target. The note advocates two additional criteria: 1) sources of future economic growth envisaged in the plan; and 2) the procedures of economic appraisal of big investment projects mentioned implicitly or explicitly in the plan. The two criteria and their uses are illustrated by discussing the case of the Seventh Five Year Plan (1985-90) in India.
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