1. Is economic planning necessary? Justify your answer with four points.

Dear Student,
Yes, Economic planning is necessary, due to following reasons hereunder given below.You can select any four of them as per your choice. :-

1. The main objective of economic planning is to achieve economic development. Economic development is referred to overcoming country from unemployment, poverty, and ill health etc.
2. Economic planning is done so that the country becomes self-sufficient for food grains, industrial raw material, etc.
3. It is necessary to maintain economic stability such as price should not fluctuate frequently.
4. Five years economic plan is made to promote labour welfare, economic development, development of education and health.
5. Economic planning also leads to regional development.
6. Planning is necessary to reduce economic inequalities in society and promote social justice in economy.
7. Economic planning is also done to increase the standard of living.
8. Economic planning leads to the comprehensive development of society and overall country. 

Regards