Explain the Planning objective of “Growth with Equity”.

Growth refers to an increase in a country’s capacity to produce goods and services, whereas; equity refers to reducing inequality of income and wealth. Thus, growth with equity ensures that the benefits of economic development are enjoyed by all the sections of society. Economists believe that rise in Gross Domestic Product and equitable distribution of income are equally important. Thus, ensuring equitable growth was taken up as an important objective of Indian economic planning.