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% actual growth 2.48%)

1961-1966

  •            Focus: heavily & basic industry which was then shifted to agriculture (PL480)
  •           Due to two wars – war with China, 1962 & war with Pakistan, 1965 & severe drought of 1965-66; it filed on many fronts.

  • 1966-67, 1967-38 & 1968-69 were annual Plans. Discontinuation of five year Plans for three consecutive years is regarded as plan holiday 
  •  Due to the prevailing food crisis, annual plans were primarily focused on agriculture.
  •  During these plans, the foundation of the green revolution was laid down which includedv widespread use of HYV (High Yielding Varieties) seeds, chemical fertilizers and extensive exploitation of irrigation potentials. During these years, the shocks of a third- year plan were absorbed & five-year planning system was resumed from 1969.

 

Fourth Plan (target growth 5.75% actual growth 3..30%)

1969-1974

  •            Focus: self-sufficiency in food 7 self-reliance.
  •            It was drafted & launched by D.D. Dhar
  •          This Plan was terminated in the year 1978.
  •            There were rolling plans for the year 1978-1979 & 1979-1980.

Fifth Plan

(target growth 4.4% actual growth 4.8%)

1974-1979

  •            Focus: removal of poverty 7 attainment of self-reliance.
  •            It was drafted 7 launched by D.D. Dhar.
  •            This plan was terminated in the year 1978.
  •           There were rolling Plans for the year 1978-1979 & 1979-1980.

Sixth Plan

(target growth 5.2% actual growth 5.4%)

1985-1990

  •            Focus: poverty eradication 7 productivity enhancement.
  •            Stressed upon modernization of technology.
  •            For the first time, the frontal attack was made on poverty by adopting ambitious poverty eradication programmes (trickle down strategy was discarded).

Seventh Plan

(target growth 5.2% actual growth 5.4%)

1985-1990

  •            Focus: productivity & work i.e. employment generation.
  •            For the first time, the private sector got priority over the public sector.
  •            Due to volatile political situations at the center, two annual plans were commenced for the year 1990-1991 & 1991-1992.

Eight Plan

(target growth 5.6% actual growth 6.8%)

1992-1997

  •          Focus: Plan with a human face i.e. human resources development.
  •           During this plan, new economic policy was launched with LPG (Liberation, Privatization & Globalization).
  •            It gave primacy to human capital & the private sector.

Ninth Plan

(target growth 7.1% actual growth 6.8%)

1997-2002

  •            Focus: growth with justice & equity.
  •            It stressed upon four dimensions; quality of life; generation of productivity employment; regional balance & self-reliance.

Tenth Plan

(target growth 8.1% actual growth 7.7%)

2002-2007

  •            It was aimed to double the per capita income of India in the next year 10 years.
  •            And to reduce the poverty ratio by 15% by 2012.

Eleventh Plan

(target growth 8.1% actual growth 7.9%)

2007-2012

  •            Focus: faster growth & more inclusive growth.

Twelfth Plan

(target growth 8%)

2012-2017

  •            Focus: Faster, more inclusive growth & sustainable growth.

 

NITI Aayog

  • NITI Aayog, the National Institution for Transforming India, is a policy think tank of Government of India established in 2015.
  • It replaced the Planning Commission.
  •  It has a dual objective of achieving sustainable development goals and to enhance cooperative.

 

  1. Acton Plan- 3 years
  2. Strategy Plan – 7 years
  3. Vision Plan- 15

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