Planning Indices and Economic Incentives for Effective Utilization of Fixed Assets

The effective utilization of fixed assets exerts an even greater influence on the rate of economic reproduction and requires constant improvement in the forms and methods of planning and management. This fact of our economic reality is a new major aspect of the period of the comprehensive building of communism, the age of powerful productive forces, harnessing the atom and exploring outer space. The total value of the USSR's productive fixed assets exceeded 231 billion rubles by the beginning of 1963. It is the world's youngest production machinery corresponding to the latest in science and technology. Approximately half of the fixed assets of production were renewed within the most recent years of the current seven-year plan period. The proportion of metal-cutting machine tools less than 10 years old increased from 40% in 1955 to 57% in 1962, and that of stamping and pressing equipment - from 43 to 62%, respectively.