Explain growth with equity as a planning objective?

Question: Explain growth with equity as a planning objective?

Growth with equity as a planning objective is a concept that aims to combine economic expansion with the fair distribution of the resulting benefits. It seeks to ensure that the increase in a nation's income, often measured by Gross Domestic Product (GDP), does not only benefit a small segment of society but is shared equitably across different social strata. This approach addresses the disparities that can arise from economic growth by promoting social justice and reducing income inequality. By prioritizing growth with equity, planning objectives strive to create a more inclusive economy where the prosperity from growth reaches all citizens, contributing to a reduction in poverty and an improvement in the overall standard of living. This balanced approach to economic development is considered both rational and desirable, as it fosters a more egalitarian society where everyone has the opportunity to be self-reliant and prosper.

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