Five year plans in India goals and achievements ~ EasyAdda

Five year plans in India goals and achievements (1950-1990)

●Niti Ayog (Planning Commission)- 5years (1950)

● first five year plan started in 1951 1st April

● Economic planning- it refers to the utilisation of countries resources in the different development activities in accordance with National priorities

• India adopt mixed economy

◆ Need for planning in India~ because our economy is stagnant and exploited by Britishers

● Types of planning

1. Directive planning- it refers to a system in which planning is introduced just to direct the forces of supply and demand as per market forces. (no intervention of government)

2. Comprehensive planning- it refers to a system in which government herself participate in the process of growth and development (major role of government)

● Types of economy

1. Capitalist economy (major role of private sector)

2. Socialist economy (major role of public sector/Government)

3. Mixed economy (major role of private and government both)

● long period and short period goals of planning in India

• objectives of long term planning

(basically long year 20,30,40 years)

1. GDP growth

2. Equitable distribution or equity

3. Full employments

4. Modernization

5. Self sufficiency (do not import)

● Short period goals/objectives

1. First five year plan focused on a higher agricultural production as the principal objective

2. Second five year plan focus on increase in industrial production during the the year

3. Third five year plan emphasizes the need for self sufficiency in food grain

4. Fourth five year plan focused on price stability and a fuller utilisation of Manpower

5. 5th and 6th five year plan focused on alleviation of poverty

6. Seventh five year plan focused again stressed the need for Greater Employment

7. 8th five year plan reinforest the objective of full employment besides universalisation of education

8. 9th five year plan focus on growth price stability and environmental sustainability

9. Tenth five year plan focused on stressed the need for better quality of life

10. Eleventh five year plan focused on poverty reduction job creation and the protection of environments

11. 12th Five Year Plan focused on stress the need for sustainable as well as inclusive growths

● Features of economic policy pursued under planning till 1991

1. Heavy Reliance on public sector (government)

2. Protection of small scale industry and regulation of large scale industry

3. Focus on saving and investment

4. Focus on import substitution

5. Protection from foreign competition

6. Restriction on foreign capital

● Success (achievement) of planning

1. Increase in national income

2. Increase in per capita income

3. Rise in Savings and investment

4. Institutional and Technical change in agriculture

5. Economic and social infrastructure

6. New employment opportunity

● Failure of planning in India

1. Poverty

2. High rate of inflation

3. Unemployment

4. Inadequate infrastructure

5. Unequal distribution

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