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ECONOMICS ASSIGNMENT
Submitted to:
Submitted by:
Dr. A. K. Sharma
Animesh Kumar
B.A.LL.B.(H) 2009-14 Enrol.No.A8108309035
PREFACE
This assignment take cares of the topic FIVE YEAR PLANS IN INDIA of Economics- III from social development perspective. Brief introduction, objectives and outcomes & achievements of plans, all have acquired very important place as a subject of Economic planning. I am sure my effort would these inclusions and will keep on guiding me as faculty have done earlier. I am extremely thankful to my faculty Dr. Anuj Kumar Sharma sir for the special care and extra time given to me for preparation of this assignment I took too much time to complete the given task.
ACKNOWLEDGMENT
This assignment is intended to cover the Five Years Plans in India. Basic and pre-requisite information have been included. I acknowledge the inspiration and blessing of my respected faculty Dr. Anuj Kumar Sharma. He made my all doubt crystal clear. I am full of gratitude to my seniors Pratik Mishra, Mayank Dubey, Swastik Viswakarma and Abhas Sharma for the patience shown and encouragement given to complete this assignment. My heartful thanks are due to my friends Priyanshu, Gaurav and Purusharth for providing relevant resources. In the last but not the least, my sense of gratitude is due to AMITY LAW SCHOOL, LUCKNOW. Every effort has been made to avoid errors and mistakes; however their presence cannot be ruled out.
Animesh Kumar
INDEX
1. INTRODUCTION..........................................................................................................1 2. FIRST FIVE YEAR PLAN (1951-56)...........................................................................2 3. SECOND FIVE YEAR PLAN (1956-61)......................................................................6 4. THIRD FIVE YEAR PLAN (1961-66).........................................................................8 5. FOURTH FIVE YEAR PLAN (1969-74)....................................................................10 6. FIFTH FIVE YEAR PLAN (1974-79).........................................................................14 7. SIXTH FIVE YEAR PLAN (1980-85)........................................................................17 8. SEVENTH FIVE YEAR PLAN (1985-90).................................................................19 9. EIGHTH FIVE YEAR PLAN (1992-97).....................................................................24 10. NINTH FIVE YEAR PLAN (1997-2002)...................................................................26 11. TENTH FIVE YEAR PLAN (2002-07).......................................................................27 12. ELEVENTH FIVE YEAR PLAN (2007-2012)...........................................................28 13. INDIAS 12TH FIVE YEAR PLAN TO FOCUS ON INCLUSIVE GROWTH.....30 14. CONCLUSION............................................................................................................31
INTRODUCTION
When India gained independence, its economy was grovelling in dust. The British had left the Indian economy crippled and the fathers of development formulated 5 years plan to develop the Indian economy. The five years plan in India is framed, executed and monitored by the Planning Commission of India. The economy of India is based in part on planning through its Five-Year Plans, which are developed, executed and monitored by the Planning Commission. The Planning Commission was set up in March, 1950 by a Resolution of the Government of India which defined the scope of its work in the following terms: The Constitution of India has guaranteed certain Fundamental Rights to the citizens of India and enunciated certain Directive Principles of State Policy, in particular, that the State shall strive to promote the welfare of the people by securing and protecting as effectively as it may a social order in which justice, social, economic and political, shall inform all the institutions of the national life, and shall direct its policy towards securing, among other things, that the citizens, men and women equally, have the right to an adequate means of livelihood; that the ownership and control of the material resources of the community are so distributed as best to sub serve the common good ; and that the operation of the economic system does not result in the concentration of wealth and means of production to the common detriment.
The Planning Commission will 1. make an assessment of the material, capital and human resources of the country, including technical personnel, and investigate the possibilities of augmenting such of these resources as are found to be deficient in relation to the nation's requirements ; 2. formulate a Plan for the most effective and balanced utilisation of the country's resources ; 3. on a determination of priorities, define the stages in which the Plan should be carried out and propose the allocation of resources for the due completion of each stage ; 4. indicate the factors which are tending to retard economic development, and determine the conditions which, in view of the current social and political situation, should be established for the successful execution of the Plan ; 5. determine the nature of the machinery which will be necessary for securing the successful implementation of each stage of the Plan in all its aspects ; 6. appraise from time to time the progress achieved in the execution of each stage of the Plan and recommend the adjustments of policy and measures that such appraisal may show to be necessary ; and 7. make such interim or ancillary recommendations as appear to it to be appropriate either for facilitating the discharge of the duties assigned to it ; or, on a consideration of the prevailing economic conditions, current policies, measures and development programmes ; or on an examination of such specific problems as may be referred to it for advice by Central or State Governments."
A target of GDP growth in the 9 percent to 9.5 percent range An increase in literacy rates to 100 percent between the plans period from 2012 to 2017 An increased expenditure on health from 1.3 percent to 2.0 percent of GDP
In a boon for industry, the planning commission indicated that it aims to have industry and manufacturing-related activities grow by 11 percent over the next five years, contrasted to 8 percent over the previous 11th five-year plan. It also aims to undertake somewhat vaguely defined, but certainly well-intentioned, structural and regulatory reforms to facilitate investment. The presentation highlighted the planning commissions views that commercial energy demand is expected to increase by 7 percent per year over the next five years. To address that increase in demand, the planning commission recommended that all methods of current energy production and distribution be developed, from coal to nuclear energy to solar and wind, and proposed that existing taxes on electricity should not be raised. Interestingly, the Planning Commission envisioned an expansive role for Indian SOE Coal India: Coal India must become a coal supplier and not just a mining company. Should plan to import coal to meet coal demands? This requires blending of imported and domestic coal as supplied by Coal India. All told, in its early stages, the 12th five-year plan promises a lot for rural development and growth. In that sense, it is similar to Chinas latest iteration of its five-year plan, which seeks to improve the lot of rural Chinese peoples by increasing urbanization and industrial efforts in central and western China. But, by contrast, while the Chinese government seems to be continuing with nation-wide industrialization efforts, the Indian government may be attempting to promote a policy of reverse migration by making rural living more attractive with some access to modern amenities, but hopefully without the accompanying chaos that goes with it.
CONCLUSION
With an overview of the Indian Five Year Plan we can say that they have undoubtedly been tools in the boosting and the shaping of our economy. We have been able to meet many of the objectives laid down by the plans. These plans have succeeded in building the industrial and economic infrastructure of the country. The growth of the Private Sector can also be attributed to these plans. Animesh Kumars Economics Assignment | Amity Law School, Lucknow 31