Planning and Liberalisation

Planning and Liberalisation S P Gupta Given the changes in the government's economic policy directions towards more indicative and financial planning, the time has come for the finance ministry and the Planning Commission to devise closer working arrangements under a joint policy regime. The comparative advantage of the Planning Commission with a large technical team should be exploited for initiating in-depth analysis of the causes of the recent macro-economic imbalances. Attempting to deal with them solely via a macro-frame baied almost exclusively on the central budget without detailed consideration of the many micro/sectoral economic activities covering technical, institutional and other factors will be highly risky.