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Economic planning can hardly be made without finance. The availability of sufficient fund most probably guarantees the achievement of physical targets. The success of the plan is linked with the stipulation of financial resource. Financial planning is considered very much essential resources. Financial planning is considered very much essential in removing maladjustments between demand and supply; calculating costs and benefits of various projects. In case of financial planning the expenditures or outlay of the plan is fixed, while the estimates are made regarding the growth of NI, consumption, exports, imports and investment etc.
To meet such outlay, estimates are also made regarding savings and revenues. In financial planning equilibrium is established between incomes of population and amount of consumer goods which will be available to the population; equilibrium is established between private investors; equilibrium is established between public investment and amount of investment goods domestically produced or imported.
In addition to these balances, balance is maintained between foreign payments and receipts. Thus, it is concluded that financial planning is made to bring a balance between demands and supplies to avoid and bring economic stability.So financial planning is that type of economic planning where resources are allocated in terms of money.
To meet such outlay, estimates are also made regarding savings and revenues. In financial planning equilibrium is established between incomes of population and amount of consumer goods which will be available to the population; equilibrium is established between private investors; equilibrium is established between public investment and amount of investment goods domestically produced or imported.
In addition to these balances, balance is maintained between foreign payments and receipts. Thus, it is concluded that financial planning is made to bring a balance between demands and supplies to avoid and bring economic stability.So financial planning is that type of economic planning where resources are allocated in terms of money.
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