Performance
of India’s Five Year Plans
Economic
planning is the process in which the limited natural resources are used
skillfully so as to achieve the desired goals. The concept of economic planning
in India or five year plan is derived from Russia (then USSR) . India has
launched 12 five year plans so far. Twelfth five year plan will be the last
one. The government of India has decided to stop the launching of five year
plans and it was replaced by NITI Aayog.
·
It was based on the Harrod-Domar Model.
·
Its main focus was on the agricultural development
of the country.
·
This plan was successful and achieved the GDP
growth rate of 3.6% (more than its target)
·
It was based on the P.C. Mahalanobis Model.
·
Its main focus was on the industrial development of
the country.
·
This plan was successful and achieved the growth
rate of 4.1%
·
This plan was called ‘GadgilYojana’ also.
·
The main target of this plan was to make the
economy independent and to reach self prpalled position ortake off.
·
Due to Indo -China war, this plan could not achieve
its growth target of 5.6%
·
The main reason behind the plan holiday was the
Indo-Pakistan war & failure of third plan.
·
During this plan, annual plans were made and equal
priority was given to agriculture, its allied sectors and the industry sector.
·
There are two main objectives of this plan i.e.
growth with stability and progressive achievement of self reliance.
·
This plan failed and could achieve growth rate of
3.3% only, against the target of 5.7%.
·
In this plan top priority was given to agriculture,
next cameindustry and mines.
·
Overall this plan was successful, which achieved
the growth rate of 4.8% against the target of 4.4%.
·
The draft of this plan was prepared and launched by
D.P. Dhar. This plan was terminated in 1978.
This plan
was started with an annual plan for 1978-79 and as a continuation of the
terminated fifth year plan.
·
The basic objective of this plan was poverty
eradication and technological self reliance. Garibi-Hatao was the motto.
·
It was based on investment yojana.
·
Its growth target was 5.2% but it achieved 5.7%.
·
Objectives of this plan included the establishment
of the self sufficient economy and opportunities for productive employment.
·
For the first time, due to the pressure from
private sector the private sector got the priority over public sector.
·
Its growth target was 5.0% but it achieved 6.0%.
Eighth
five year Plan could not take place due to volatile political situation at the
centre. So two annual programmes are formed in 1990-91& 1991-92.
·
In this plan the top priority was given to
development of the human resources i.e.
·
employment, education and public health.
·
During this plan, New Economic Policy of India was
introduced.
·
This plan was successful and got annual growth rate
of 6.8% against the target of 5.6%.
·
The main focus of this plan was “growth with
justice and equity”.
·
This plan failed to achieve the growth target of 7%
and Indian economy grew only at the rate of 5.6%.
·
This plan aimed to double the per capita income of
India in the next 10 years.
·
It aimed to reduce the poverty ratio to 15% by
2012.
·
Its growth target was 8.0% but it achieved only
7.2%.
·
Its main theme was “faster and more inclusive
growth”.
·
Its growth rate target was 8.1% but it achieved
only 7.9%
·
Its main theme is “Faster, More Inclusive and
Sustainable Growth”.
·
Its growth rate target is 8%.
Here it
can be concluded that since the Indian Independence the five year plans of
India played a very prominent role in the economic development of the country.
These plans had guided the Government as to how it should utilise scarce
resources so that maximum benefits can be gained. It is worthy to mention here
that Indian Government adopted the concept of five year plans from Russia.
The Planning Commission has been
replaced by the NITI Aayog on 1st January, 2015. NITI (National Institution for
Transforming India) Aayog will monitor, coordinate and ensure implementation of
the accepted sustainable development goals. NITI Aayog serves as a knowledge
hub and monitors progress in the implementation of policies and programmes of
the Government of India. It includes the matters of national and international
importance on the economic front, dissemination of best practices from within
the country and from other nations, the infusion of new policy ideas and
specific issue-based support. In order to understand the achievements of the
NITI Aayog, researches need to be done then and there.
Related Topics
Privacy Policy, Terms and Conditions, DMCA Policy and Compliant
Copyright © 2018-2024 BrainKart.com; All Rights Reserved. Developed by Therithal info, Chennai.