Define Planning Requirements in Economics

Planning Requirements

Introduction

In the last part of this event, we have highlighted the issues that highlight the need for planning. In this section we now want to review the essential conditions that are essential for the formation of a plan. The following conditions must be met for planning:

         i.            Establishment of planning agency

       ii.            Decide on the nature of the plan

     iii.            Plan period appointment

     iv.            Setting project goals

       v.            Provide resources for the project

     vi.            Deciding priorities

    vii.            Plan implementation

Planning Agency

The first step in this planning is the establishment of planning agencies. Planning and execution is not a one-day or temporary task, but is done on a permanent basis. There was a need for a permanent and authoritative body to carry out the planning work on a regular basis

It is common practice to set up a planning board or planning commission for planning. The board or commission may hire experts from various economic fields on cash terms so that their expertise and experience in any matter can be availed at any time. These experts can be permanently assigned work related to various aspects of the project so that they can perform their duties of research and exploration in their respective fields. The Commission may propose separate committees to deal with various issues, such as the Trade Committee, the Prohibition Committee, the Agriculture Committee or the Education Committee.

Authorities

The board or commission must be fully empowered. It can be linked to the Ministry of Finance for empowerment. It may also have the status of an independent body and be attached to the cabinet only so that it is headed by either the Prime Minister or the President. The Prime Minister or the President can be its permanent head and the Deputy Head can be given any authority in day to day affairs. Being the head of the president or prime minister has also been useful so that the people can change the plan whenever they want, as promised during the election campaign.

Experts

The members of the board or the commission should be taken only from the experts and not the flower parts of the administrative machinery should be attached to the commission as a cure for every disease. The job of experts is not only to plan but also to monitor the country's growth rate and the pace of development in neighboring countries. This is legitimate and beneficial so that the growth rate in the neighboring countries is not very fast and the country is caught in a cycle of slow behavior. Being aware of the economic experiences of others and your own and their economic a comparative review of programs is useful in this way to avoid possible mistakes and omissions made by others. It would be in the national interest to learn from the mistakes of others.

Nature of the project

Once the planning body is formed, it is important to decide on the nature of the plan. There are many types of planning.

         i.            Partial vs. Hair Plan

       ii.            Interaction vs. Past Planning

     iii.            Raghiana vs. Kakmana Planning

     iv.            Concentrated vs. decentralized planning

Partial vs. Vertical:

Partial planning refers to the planning in which one or more sectors of the economy are selected for planning. In contrast, general planning is that in which all sectors are planned with the ghee economy in mind.

Interactive vs. Intent:

Action plan means a plan that does not result in a change in the ratio of different sectors, while the main plan refers to a plan that, after implementation, changes the basic structure of the economy.

Raghiana vs. Kamyana:

Incentive planning means allocating resources through a pricing system. In administrative planning, the task of planning is entrusted to an authorized government agency which performs the task of planning in accordance with the will of the government.

Concentrated vs. Decentralized

In central planning, all planning powers are vested in a central body, even the private sector has to work according to its instructions. In decentralized planning, provinces, states and administrative units are also involved in the planning work. In a decentralized plan, the planning work goes from the bottom to the top, and in a centralized planning, the planning work goes from the top to the bottom. Planning style in Pakistan: And effective planning also requires choosing one of these eight types. In Pakistan, planning is general rather than partial. Pakistan has opted for planning rather than interaction. By avoiding authoritarianism, we have taken the path of persuasive planning. In addition, the motto of decentralized planning rather than focused is our motto.

Plan duration

The planning body has the authority to decide how long the project should last. Any term of the plan can be fixed. One-year to 20-year plans are in vogue around the world. In many countries, 10-year plans are the norm. In some places, six-year plans have been implemented. But the most popular term is five years.

Suitable period

When determining the duration of a plan, care must be taken that the duration is neither too long nor too short. The duration of the project should not be so short that the project has not been fully implemented yet, nor should it be so long that the people, traders, government officials, laborers, farmers and workers start a newspaper of disengagement from the project. With these two things in mind, a five-year term is considered better.