Economics with Insight

The objective of planning in India has been to achieve rapid and balanced economic development while addressing the country's social and economic challenges. India is a diverse country with a large population and varied economic and social conditions. Planning has been crucial in ensuring that the benefits of economic development reach all sections of the society . The planning process in India started with the adoption of the First Five-Year Plan in 1951. Since then, India has had a series of Five-Year Plans that have set targets for various sectors of the economy. The objective of these plans has been to accelerate economic growth, reduce poverty, increase employment, and improve the standard of living of the people.   Over the years, India's planning process has evolved to incorporate new challenges and opportunities. The planning process has been decentralized, with greater involvement of the states and local bodies. There has also been a shift towards a more market-orient...

T he rupee in your pocket has a mysterious past. Behind Mahatma Gandhi’s smiling face lies a long history of struggle, exploration, and wealth that can be traced back to the ancient India of the 6th century BC. Let’s demystify this history by bringing you the interesting stories about how Indian currency has evolved over the ages into the rupee of today. Ancient Indians were the earliest issuers of coins in the world, along with the Chinese and Lydians (from the Middle East). The first Indian coins – punch marked coins called  Puranas ,  Karshapanas  or  Pana  – were minted in the 6th century BC by the Mahajanapadas (republic kingdoms) of ancient India. These included Gandhara, Kuntala, Kuru, Panchala, Shakya, Surasena, and Saurashtra. Then came the Mauryas who punch marked their coins with a royal standard. Chanakya, prime minister to the first Mauryan emperor Chandragupta Maurya, mentions the minting of coins such as  rupyarupa ...