Indian Economy: A journey of last 65 years
Panchayati Raj and economic empowerment
The principal motivations for decentralising of political, administrative and fiscal systems are propelled by the purpose of harnessing the developmental potential and improve the living conditions of the people.
This system of Panchayati Raj was adopted by state governments during the 1950s and 60s. The Amendment Act of 1992 contains provision for devolution of powers and responsibilities to the panchayats both for the preparation of economic development plans, rural empowerment and social justice.
One can say that the system of Panchayati Raj gave a tool for economic empowerment for people living in rural India wherein the person at the lowest level of society can feel associated with the policy formulation as well as get a share in the economic decisions.
The common departments in the Panchayat Samiti has ensured that rural India gets empowered through the formulation of policy in Finance, Public work, Agriculture, Health, Education and Social welfare.
Compiled by Ajeet Kumar and Reema Sharma
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