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Plan
Notes
It was based on Harrod-Domar Model.
Community Development Program launched in 1952
First Plan
(1951 - 56)
Second Plan
(1956 - 61)
Advocated huge imports through foreign loans.
Target Growth:
4.5% Actual
Growth: 4.27% Shifted basic emphasis from agriculture to industry
far too soon.
During this plan, prices increased by 30%, against a
decline of 13% during the First Plan
Third Plan
(1961 - 66)
|Target Growth:
5.6% Actual
Growth: 2.84%
Growth: 3.8
Rolling Plan
(1978 - 80)
Sixth Plan
(1980 - 85)
Target Growth:
5.2% Actual
Growth: 5.66%
Seventh Plan
(1985 - 90)
Target Growth:
5.0% Actual
Growth: 6.01% The plan was very successful, the economy recorded
6% growth rate against the targeted 5%.
Eighth Plan
(1992 - 97)
Goals:
To achieve 8% GDP growth rate
Reduction of poverty ratio by 5 percentage points by
2007.
Providing gainful high quality employment to the
addition to the labour force over the tenth plan
period.
Universal access to primary education by 2007.
Reduction in gender gaps in literacy and wage rates
by atleast 50% by 2007.
Reduction in decadal rate of population growth
between 2001 and 2011 to 16.2%.
Goals:
Accelerate GDP growth from 8% to 10%. Increase
agricultural GDP growth rate to 4% per year.
Create 70 million new work opportunities and reduce
educated unemployment to below 5%.
Raise real wage rate of unskilled workers by 20
percent.
Reduce dropout rates of children from elementary
school from 52.2% in 2003-04 to 20% by 2011-12.
Increase literacy rate for persons of age 7 years or
above to 85%.
Lower gender gap in literacy to 10 percentage point.
Increase the percentage of each cohort going to
higher education from the present 10% to 15%.
Since Independence, the Indian economy has been premised on the concept of planning. This has
been carried through the Five-Year Plans, developed, executed, and monitored by the Planning
Commission. With the Prime Minister as the ex-officio Chairman, the commission has a nominated
Deputy Chairman, who holds the rank of a Cabinet Minister. Montek Singh Ahluwalia is the last
Deputy Chairman of the Commission (resigned on 26 May 2014). The Eleventh Plan completed its
term in March 2012 and the Twelfth Plan is currently underway.[1] Prior to the Fourth Plan, the
allocation of state resources was based on schematic patterns rather than a transparent and
objective mechanism, which led to the adoption of the Gadgil formula in 1969. Revised versions of
the formula have been used since then to determine the allocation of central assistance for state
plans.[2]
Contents
[hide]
1 History
16 See also
17 References
18 External links
History[edit]
Five-Year Plans (FYPs) are centralized and integrated national economic programs. Joseph
Stalin implemented the first FYP in the Soviet Union in the late 1920s. Most communist states and
several capitalist countries subsequently have adopted them. China and India both continue to use
FYPs, although China renamed its Eleventh FYP, from 2006 to 2010, a guideline (guihua), rather
than a plan (jihua), to signify the central governments more hands-off approach to development.
India launched its First FYP in 1951, immediately after independence under socialist influence of first
Prime Minister Jawaharlal Nehru.[3]
The First Five-Year Plan was one of the most important because it had a great role in the launching
of Indian development after the Independence. Thus, it strongly supported agriculture production
and it also launched the industrialization of the country (but less than the Second Plan, which
focused on heavy industries). It built a particular system of mixed economy, with a great role for the
public sector (with an emerging welfare state), as well as a growing private sector (represented by
some personalities as those who published the Bombay Plan).
The total planned budget of Rs.2069 crore(2378 crore later) was allocated to seven broad
areas: irrigation and energy (27.2%), agriculture and communitydevelopment
(17.4%), transport and communications (24%), industry (8.4%), social services (16.64%), land
rehabilitation (4.1%), and for other sectors and services(2.5%). The most important feature of this
phase was active role of state in all economic sectors. Such a role was justified at that time because
immediately afterindependence, India was facing basic problemsdeficiency of capital and low
capacity to save.
The target growth rate was 2.1% annual gross domestic product (GDP) growth; the achieved growth
rate was 3.6% the net domestic product went up by 15%. Themonsoon was good and there were
relatively high crop yields, boosting exchange reserves and the per capita income, which increased
by 8%. National income increased more than the per capita income due to rapid population growth.
Many irrigation projects were initiated during this period, including the Bhakra Dam andHirakud Dam.
The World Health Organization (WHO), with the Indian government, addressed children's health and
reduced infant mortality, indirectly contributing topopulation growth.
At the end of the plan period in 1956, five Indian Institutes of Technology (IITs) were started as major
technical institutions. The University Grant Commission (UGC) was set up to take care of funding
and take measures to strengthen the higher education in the country. Contracts were signed to start
five steel plants, which came into existence in the middle of the Second Five-Year Plan. The plan
was quasi successful for the government.
The total amount allocated under the Second Five-Year Plan in India was Rs.48 billion. This amount
was allocated among various sectors: power and irrigation, social services, communications and
transport, and miscellaneous.
The target growth rate was 4.5% and the actual growth rate was 4.27%. [6] 1956-industrial policy.
States deployment of the Seventh Fleet in the Bay of Bengal. The fleet had been deployed to warn
India against attacking West Pakistan and extending the war.
The target growth rate was 5.6%, but the actual growth rate was 3.3%.[6]
billion (US$9.0 billion), Trade Balance (-) 210 billion (US$3.5 billion)
Projections for balance of payments: Export 607 billion (US$10.1 billion), Imports (-)
954 billion (US$15.8 billion), Trade Balance- (-) 347 billion(US$5.8 billion)
Under the Seventh Five-Year Plan, India strove to bring about a self-sustained economy in the
country with valuable contributions from voluntary agencies and the general populace.
The target growth rate was 5.0% and the actual growth rate was 6.01%. [8]
To achieve the target of an average of 5.6% per annum, investment of 23.2% of the gross domestic
product was required. The incremental capital ratio is 4.1. The saving for investment was to come
from domestic sources and foreign sources, with the rate of domestic saving at 21.6% of gross
domestic production and of foreign saving at 1.6% of gross domestic production. [9]
Population control.
Reduction of poverty.
Empowering the socially disadvantaged classes like Scheduled castes, Scheduled tribes and
other backward classes.
Acceleration in the growth rate of the economy with the help of stable prices.
Strategies
New initiatives and initiation of corrective steps to meet the challenges in the economy of the
country.
Involvement and participation of Panchayati Raj institutions/bodies and Nagar Palikas in the
development process.
Performance
The Ninth Five-Year Plan achieved a GDP growth rate of 5.4% against a target of 6.5%
The agriculture industry grew at a rate of 2.1% against the target of 4.2%
The industrial growth in the country was 4.5% which was higher than that of the target of 3%
The Ninth Five-Year Plan looks through the past weaknesses in order to frame the new measures for
the overall socio-economic development of the country. However, for a well-planned economy of any
country, there should be a combined participation of the governmental agencies along with the
general population of that nation. A combined effort of public, private, and all levels of government is
essential for ensuring the growth of India's economy.
The target growth was 7.1% and the actual growth was 6.8%.
Providing gainful and high-quality employment at least to the addition to the labour force.
Reduction in gender gaps in literacy and wage rates by at least 50% by 2007.
Environmental sustainability.
Earlier, addressing a conference of State Planning Boards and Planning departments, he said the
rate of decline in poverty doubled during the 11th Plan. The commission had said, while using the
Tendulkar poverty line, the rate of reduction in the five years between 200405 and 200910, was
about 1.5%points each year, which was twice that when compared to the period between 1993-95 to
2004-05.[11]