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Why economic planning is important.
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[QUOTE="TOZZIBLINKZ, post: 216465, member: 37528"] It is the sole aim of the government and other governmental power status to plan Bond issues concerning the economy . Moreover , economic planning refers to government conscious formulation of economic policy for the allocation of resources to the sectors of the economy over a period of time in order to bring about sustained growth in the economy . a good economic plan will ensure the increase in the level of employment in the economy , also increase and promote better and efficient technology in order to improve the real income of the citizens as a result of the good economic planning . Other aims and objective of economic planning include : to ensure equitable allocation of resources , to ensure diversification of the economy , to bridge the gap between the rich and the poor , to achieve economic self-sufficiency , to ensure economic growth and development , to reduce foreign control of economy , to ensure joint business participation , and finally to reduce rural to urban migration . In addition to all this economic planning has some setback that is preventing it from reaching its full potentials . Some of this obstruction include: insufficient successful data and information to aid the planning process , inadequate skilled personnel , and finally corruption and nepotism etc . [/QUOTE]
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