Question

Ensuring 'Equity' in economic planning means :

• A. Concentrating wealth in the hands of a few.
• B. Ensuring all citizens receive basic necessities and fair distribution of wealth.
• C. Prioritizing industrial growth over social welfare.
• D. Limiting access to education and healthcare.

Answer 1

Answer:

B. Ensuring all citizens receive basic necessities and fair distribution of wealth.

Objectives of economic planning 

1. Growth
   Economic growth indicates the increase in output of goods and services produced in the country. It is an important objective of economic planning as it contributes to national progress.

2. Modernisation

• Modernisation is making use of the latest technology.

• It also includes making a change in the perception of the society which involves protection of women’s rights, social security, and openness to social changes.

3. Self reliance

• The aim of self reliance is to attain self – sufficiency in agriculutral, industrial and service sectors using the available resoruces and to avoid foreign dependence.

4. Equity

• Ensuring equity is essential for the people to benefit the fruits of growth, modernisation, and self reliance
  

• The objective of equity will be attained when all citizens receive basic necessities of life, health protection and righteous distribution of wealth