Economic Planning in India: Did We Throw the Baby Out with the Bathwater?
India has a long and checkered history of planning with some success but many failures. Despite India’s federal structure India’s approach to planning has been top-down with the union government controlling many levers – financial and otherwise to determine the direction of the economy and social programs. India has tried 3 types of planning – “directed planning”, “indicative planning” and now just a “strategy but no planning”. India needed to replace the Planning Commission but not give up on planning altogether. Just as the rest of the world was going back to a “new planning” surge to handle climate change and the desire to meet the SDGs, India abolished planning altogether. The successor to the planning commission - the Niti Aayog needs to get back to “new planning”, that is now being adopted by many countries with stronger leadership. A legitimised authorising environment and effective use to plan can help India achieve the SDGs by 2030 and become a prosperous country by 2047.
Keywords:Indian Planning, Niti Aayog, SDG, Climate Change, New Planning
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