Five year plans in india summary. Five Year Economic Planning in India: UPSC Economic Notes 2022-10-10

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India has a long history of implementing Five-Year Plans as a means of economic development. The first Five-Year Plan was launched in 1951, just a few years after India gained independence from British rule. Since then, the country has implemented a total of twelve Five-Year Plans, with the most recent one being the Twelfth Five-Year Plan, which ran from 2012 to 2017.

The main objective of the Five-Year Plans in India is to promote balanced and rapid economic development by focusing on specific sectors and regions. The Planning Commission, an apex body responsible for the formulation and implementation of the Five-Year Plans, works closely with state governments and other stakeholders to identify priority areas and allocate resources accordingly.

One of the main features of the Five-Year Plans in India is the emphasis on mixed economic development, which combines both public and private sector participation. The government plays a crucial role in providing infrastructure, such as roads, power, and irrigation facilities, while the private sector is encouraged to invest in areas such as industry, agriculture, and services.

Over the years, the focus of the Five-Year Plans in India has evolved to meet the changing needs of the country. The early plans were primarily geared towards achieving self-sufficiency in food production and improving basic infrastructure. The later plans, on the other hand, have focused more on issues such as employment generation, poverty reduction, and environmental sustainability.

Despite the overall success of the Five-Year Plans in India, there have been some criticisms as well. Some have argued that the planning process is too centralized and does not adequately take into account the needs and priorities of different states and regions. Others have pointed out that the implementation of the plans has not always been effective, due to issues such as inadequate resources, bureaucratic hurdles, and corruption.

In conclusion, the Five-Year Plans in India have played a crucial role in the country's economic development over the past seven decades. While there have been challenges and criticisms, the overall impact of the plans has been positive, and they continue to be an important tool for shaping the direction of the country's economic growth.

Five Year Plans in India

five year plans in india summary

India had emerged as one of the fastest growing economy by the end of the Tenth Plan. In this article, we will discuss Economic planning in India, Specifically the Five Year Plan for UPSC which will be very helpful for the aspirants in their upcoming UPSC Prelims and mains examination. Seventh Five Year Plan of India 1985 — 90 The country enjoyed a reasonable rate of economic growth 5. The five-year plan targets achieving economic equality and proper social justice. It also aimed to increase employment opportunities and national income. Prevailing crisis in agriculture and serious food shortage necessitated the emphasis on agriculture during the Annual Plans.

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3 Summary Five Year Plans in India (1).pdf

five year plans in india summary

Inflation rates were touching the sky with the unemployment spiral. This plan was drafted by M. Import Substitution was promoted Based on the experience of first two plans, agriculture was given top priority to support the exports and industry. This means that if the targets can be amended each year, it would be difficult to achieve the targets and will result in destabilization in the Indian economy. The plan also recommended the Luddite approach and was pessimistic towards the usage of foreign technology.


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Five Year Plans of India

five year plans in india summary

The target for the annual growth rate was 5%. It needs various weapons to shape such norms and values. However, this plan was criticized by many experts and as a result, India faced a payment crisis in the year 1957. It was based on investment Yojna, infrastructural changing, and trend to the growth model. The development of human resources, such as employment, education, and public health, was given primary attention in this plan. In this plan, the top priority was given to the development of human resources i. Five Year Plans in India summary 1st five year plan 1951 to 1956 : Target Growth : 2.

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five year plans in india summary

During the Annual Plans, the economy absorbed the shocks generated during the Third Plan It paved the path for the planned growth ahead. This plan lags behind its target growth rate of 4. Therefore, its aim was to make India a 'self-reliant' and 'self-generating' economy. Due to the Sino Indian War, India witnessed increase in price of products. At the end of this plan, five IITs were set up in the country.

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Five Year Economic Planning in India: UPSC Economic Notes

five year plans in india summary

The North eastern part of the country, witnessed increase in the number of railway tracks. Family Planning Programmes were implemented. These plans are to achieve self-reliance and rapid human capital development. Birla were primarily responsible for the initiation. It Provides Also check the Related UPSC Articles in the table below: NCERT Notes: Salinity Of Ocean Water NCERT Notes: Tropical Cyclones NCERT Notes: Pallava Dynasty NCERT Notes: The August Offer NCERT Notes: Third Battle Of Panipat NCERT Notes: Kushan Empire Economic Planning In India FAQs. While in short period gains we can include things like price stability, education promotion, better health care and so on. The Ninth Five-Year Plan also saw a hike of 48% in terms of plan expenditure and 33% in terms of the plan outlay in comparison to that of the Eighth Five-Year Plan.

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Five Year Plans of India (Summary): Objectives, Achievements, Failures

five year plans in india summary

However, the second bout of global slowdown in 2011 due to the sovereign debt crisis in Europe coupled with domestic factors such as tight monetary policy and supply side bottlenecks, resulted in deceleration of growth to 6. Therefore, the NDA government has dissolved the Planning Commission which was replaced by the NITI Aayog. Economists argue that when both per capita income and national income growth in real terms, a higher standard of living for every individual as well as society as a whole can be achieved. The Plan was thorough failure in reaching the targets due to unforeseen events — Chinese aggression 1962 , Indo-Pak war 1965 , severe drought 1965-66. Types of economic planning There are several types of economic planning.

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Five Year Plan of India: Objectives, Approach to Plan and Concepts

five year plans in india summary

It was a successful plan primarily because of good harvests in the last two years of the plan. Increase in literacy rate to 72% within the plan period and to 80% by 2012. During this plan, Narasimha Rao Govt. Five Year Plans in India: Breaks The first Five-year Plan was launched in 1951 and two subsequent five-year plans were formulated till 1965, when there was a break because of the Indo-Pakistan conflict. Rangarajan was its framer.


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Summary Five Year Plans In India [6nq80k3pepnw]

five year plans in india summary

It was launched for the duration of 1951 to 1956,under the leadership ofJawaharlal Nehru. The second plan was a period of rising prices. However, the government lasted for only 2 years. These individuals would eventually be absorbed into programs related to nuclear power. Agriculture was emphasized, as was the improvement in wheat production.

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five year plans in india summary

These plans are set in action under the administration of the planning commission. The main target of this plan was to make the economy independent. Thus the five year plans targeted achieving the progress of India in this direction. The Ninth Plan also aimed at correcting the historical inequalities which were still prevalent in the society. The main focus of the first eight Plans was on public sector growth with huge financing in primary and heavy industries but the starting of the Ninth Plan in 1997, the focus on the public sector was reduced, and planning strategy in the country became more indicative. The main focus was industrial development.

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five year plans in india summary

As a consequence the prices of various goods increased leading to growth in the standard of living of the residents of India. It was created using the P. The Indian government also made considerable effort in improving posts and telegraphs, railway services, road tracks, civil aviation. There were two main objectives of this plan i. Three plans were introduced under the Rolling plan: 1 For the budget of the present year 2 this plan was for a fixed number of years— 3,4 or 5 3 Perspective plan for long terms— 10, 15 or 20 years. Seventh Five Year Plan: I. They are only policy guide maps for the government.

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