Five Year Plan
FIVE YEAR PLAN PLANS TIME FRAME OBJECTIVES & REMARKS First Plan 1951-1956 Focus: agriculture, price stability & infrastructure It was based on Harrod Domer model (growth rate if the economy depends upon investment rate & productivity of capital in a positive manner). Second Plan (target growth 4.5% actual growth 4.27%) 1956-1961 Focus: rapid industrialization. It was also known as Mahalanobis Plan (advocated planning shift from agriculture to industries) It laid emphasis on heavy 7 basic industries. Also advocated import substitution; export pessimism & overvalue exchanges. Third Plan (target growth 5.6...