Five Year Plans of India

August 16, 2019
Category: Uncategorized

From 1947 to 2017;
In India economy was based on the concept of planning. The concept of economic planning in India is derived from Russia. Planning was done by Planning Commission of India. The Planning commission was abolished in 2014 replaced by NITI Ayog.

Difference between the Planning Commission and NITI Ayog

It is history. Now, We will analyse all the 12 five year plans of India.

Timeline of Five Year Plans

PlanFromTill
1st19511956
2nd19561961
3rd19611966
Plan Holidays19661969
4th19691974
5th19741978
Rolling Plan19781980
6th19801985
7th19851990
Annual Plans19901992
8th19921997
9th19972002
10th20022007
11th20072012
12th20122017
Understanding the table
  • Other than the numbering of Plan three-term used, these are the short term plans.
    1. Plan Holidays, due to failure of the third plan government was forced to declare the Plan holidays from 1966-67, 1967-68, 1968-69.
      These are three plans the main reasons for plan holidays were the war, lack of resources and an increase in inflation.
    2. Rolling Plan, this was because of Janata Government rejected the 5th five-year plan and introduced a new 6th five-year plan(1978–1980). This plan again rejected by the Indian National Congress in 1980 and renamed it a rolling plan and created a new plan
    3. Annual Plans, The Eighth Plan could not take off in 1990 due to the fast-changing political situation at the centre and the years 1990–91 and 1991–92 were treated as Annual Plans.
Objective and Outcome of All plans
First Plan
  • Its main focus was on the agricultural development of the country.
  • This plan was successful and achieved a growth rate of 3.6%. (more than its target)
Second Plan
  • It’s main focus was on the industrial development of the country.
  • This plan was successful and achieved a growth rate of 4.1%
Third Plan
  • It’s main objective was to make the economy independent and to reach the self-active position of take-off.
  • Due to china war, this plan could not achieve its growth target of 5.6%.
Plan Holiday
  • The duration of the plan holiday was from 1966 to 1969.
  • During this plan, annual plans were made and equal priority was given to agriculture its allied sectors and the industry sector.
Fourth Plan
  • Two main objectives of this plan i.e.
    • growth with stability
    • progressive achievement of self-reliance.
  • This plan failed and could achieve a growth rate of 3.3% only against the target of 5.7%.
Fifth Plan
  • In this plan top priority was given to agriculture, next came to industry and mines.
  • this plan was successful which achieved the growth of 4.8% against the target of 4.4%.
Sixth Plan
  • The basic objective of this plan was poverty eradication and technological self-reliance.
  • Its growth target was 5.2% but it achieved 5.7%.
Seventh Plan
  • Objectives of this plan include the establishment of the self-sufficient economy, opportunities for productive employment.
  • Its growth target was 5.0% but it achieved 6.0%.
Annual Plans
  • two annual programmes are formed in 1990-91& 1991-92.
Eight Plan
  • the top priority was given to the development of the human resources i.e. employment, education, and public health.
  • This plan was successful and got an annual growth rate of 6.8% against the target of 5.6%.
Ninth Plan
  • focuses of this plan was “growth with justice and equity”.
  • It was launched in the 50th year of independence of India.
  • This plan failed to achieve the growth target of 7% and grow only at the rate of 5.6%.
Tenth Plan
  • It aims to double the PCI of India in the next 10 years.
  • It aims to reduce the poverty ratio by 15% till 2012.
  • Its growth target was 8.0% but it achieved only 7.2%.
Eleventh Plan
  • Its main theme was “faster and more inclusive growth”.
  • Its growth rate target was 8.1% but it achieved only 7.9%.

Twelfth Plan
  • Its main theme is “Faster, More Inclusive and Sustainable Growth”.
  • The Twelfth Five-Year Plan of the Government of India has been decided to achieve a growth rate of 8.2% but the National Development Council (NDC) on 27 December 2012 approved a growth rate of 8% for the Twelfth Plan.

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