Five-Year Plans Explained: With Objectives and Achievements

Five Year Plans In India

Five-Year Plans Explained: With Objectives and Achievements

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Economic planning is mentioned in the concurrent list of VII schedule of the Indian constitution and embodies the objectives of directive principles of state policy.
Basic Aim of Economic planning is to bring rapid economic growth through agriculture, industry, power and all other sectors of the economy. Indian planning is a totally open process. Many debates have been happened before publishing any of the planning in India. Many plan makers in India who made the five years plan are not only sensitive but they are very responsible while creating any kinds of plans. Before making the plans they are criticizing that into a wide range of national and international sources. Plan making is a very important process by the administrators of India, which also includes many political supports and documentation.
In addition to making decisions regarding the use of available resources, the plan is nothing. Economic Planning There is nothing more than the Government's long-term plans to coordinate and develop the economy. In India, the economic scheme was started in the year 1950. After independence, it was considered necessary for the economic development and development of the nation. Economic planning
The term used to describe long term plans for the coordination and development of the economy with the efficient use of resources by the government.

Economic planning is defined as' the creation of major economic decisions- what and how much production is to be made, when and when it is to be produced and whom it is to be allocated by, by the conscious decision of the Authority on a determined basis. A comprehensive survey of the economic system as a whole is to be allocated '. The government will have to prepare and implement a comprehensive economic plan by integrating the private sector with the public sector. It is for these reasons that India is planning financially. In this research paper, it has been analyzed to compare the five year period.

All of the 5 years plan in India

All five years plan in India has been listed below, accordingly, by looking that data you can easily figure out the objectives and achievements of the all five-year plans. In this table, I have also shown the related political parties associated with the respective plans. Especially the five-year plans have been made to develop recent conditions of the country. Whenever the country has a problem in any field this five-year plan helps to improve the current situations.
Here is all the data are given below-
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Plan
Emphasis of Plan
Growth Rate
Target
Achieved
First Plan (19951-56)
(Based on herald –dammar model)

Second Plan (1956-61)
(Based on P C Mahalanobis two-sector model)




Third Plan (1961-66)
1/3 of total expenditure kept aside of agricultural development.


Its objective was rapid industrialization three big industries were established at bhillai (USSR) Durgapur (UK) and Rourkela (West Germany).
The locomotive factory at Chittaranjan and coach factory at paramour were established.

The self-reliant and self-generating economy was the goal; Indian economy entered the take off the stage; continued the emphasis on heavy and basic industries.
This plan is also called Gadgil Yojna.
2.1%



4.5%







5.6%
3.6%



4.1%







2.8%

Plan Holiday (1969-74) and three annual plan were formulated on account of indo-pak Conflict. Two successive years of drought. Devolution of currency by 36% and a general rise in praises.
Fourth Plan (1969-74)




Fifth Plan (1974-79)
Growth with stability and progressive achievement of self-reliance.
Growth with justice and Garibi Hatao were the main objectives of this plan.

DP Dhar formulated it.
Removal of poverty and attainment of self-reliance
5.7%




4.4%
3.3%




4.8%

Janta Party  Came into power and ended the fifth plan one year before in 1978 and formulated the sixth plan (1978-83). The sixth plan was a Rolling Plan (Gunnar Myrdal).
Sixth Plan (1980-85)



Seventh Plan (1985-90)
Removal of poverty through strengthening the infrastructure of both agriculture and industry involved peoples participation at local level. 

Food, work, and productivity were the main objectives of this plan.
5.2%



5.0%
5.7%



6.0%

The eighth plan could not be take off due to fast changing in political situations at the center. Therefore, from 1990 to 1992, Annual plans were formulated.
Eight Plan (From 1992 to 1997)
(Based on liberalization, privatization and globalization model or narsimham Mohan model)

Ninth Plan ( From 1997 to 2002)



Tenth Plan (From 2002 to 2007)




Eleventh Plan ( From 2007 to 2012)




Twelfth Plan (From 2012 to 2017)
To provide a new dynamism to the economy and improve the life quality of the common man.
The planning becomes indicative and facultative.


Growth with social justice and equality.
The recession in the international economy was held and responsible for the failure of the ninth plan.

It targeted a GDP growth rate of 8% per annum.
The plan set certain equity-related social and monitorable targets with the aim to achieve overall well being all individuals.

MTA of the eleventh plan revised it to 8.1%.
Towards faster and more inclusive growth, increasing the growth rate in agriculture, industry, and services to 4.1% 10% and 9% respectively.

Towards faster, sustainable and inclusive growth, increasing the growth rate in agriculture, industry, and services to 4%, 9.6%, and 10% respectively.
5.6%




6.5%



8%



9%



9.5%
6.8%




5.4%



7.6%



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The above information is taken from the books and some from the internet so there might be slight mistakes but overall all the information are true and correct. For the next 5 year plan keep reading my articles very soon I will be coming with a new and latest 5-year plan overview.
So, that's all in this article guys, if you have any questions regarding this topic or if you want to give me any kind of suggestions then please feel free to contact me, via social media or by any suitable way you want. For contact information, you can check my contact us page. Or you can comment below, thank you for reading have a great day.  


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