The rationale and philosophical basis of Indian planning, the growth of industrial policy and the growing role of public sector in Indian economy which provide the ideological background to Indian planning. Besides the role of the external assistance in Indian economic development the significance of price policy in developing economy like India and need for mobilizing augmenting the marketable surplus which are the keep factor to be approached upon by the planning authority in view of the needs of economic development. Keywords: Indian planning, industrial policy, price policy, marketable surplus, planning authority etc.