Economic planning in India – 5 year plan in india

Economic planning in India - 5 year plan in india

Economic planning in India or 5 year plan in india -----

  • First attempt was made was by Sir M Visvesvarayya through his book 'Planned Economy for India' in 1934.
  • National planning committee was set-up under the Chairmanship of Jawaharlal Nehru in 1938.
  • Bombay Plan (A Plan of Economic Development) in 1944.
  • Gandhain plan by SN Agarwal in 1944.
  • People's Plan by MN Roy in 1945.
  • Sarvodaya Plan by Jai Prakash Narayan in 1950.
The Government of India Set up the Planning Commission on 15th March ,1950 to assess the country's needs of material capital and human resources and to formulate economic plans for this more balance and effective utilisation.

5 year plan in india : at a Galance

  1. First Plan (1951-1956) :-----     Development of Agriculture / Growth Rate Average -- 2.1 % / Growth Rate Actual --  3.6 %.
  2. Second Plan (1956-1961) :-----     Rapid Industrialization / Growth Rate Average -- 4.5 % / Growth Rate Actual --  4.27 %.
  3. Third Plan (1961-1966) :-----      Establishment of self-reliant and self-generating Economy / Growth Rate Average --  5.6 % / Growth Rate Actual --  2.84 %.
  4. Three Annual Plans (1966-1969) :-----
  5. Fourth Plan (1969-1974) :-----     Growth with stability and progress towords self-reliance / Growth Rate Average --  5.7 % / Growth Rate Actual --  3.30 %.
  6. Fifth Plan (1974-78) :-----     Removal of Poverty (Garibi Hatao) and attainment of self reliance / Growth Rate Average --  4.4 % / Growth Rate Actual --  3.30 %.
  7. Rolling Planet (1978-1980) :----
  8. Sixth Plan (1980-1985) :-----    Ensuring continuous decrease in poverty and employment opportunities. / Growth Rate Average --  5.2 % / Growth Rate Actual --  5.66 %.
  9. Seventh Plan(1985-1990) :----     Rapid growth in food grains production , increased employment opportunities. / Growth Rate Average --  5.0 / Growth Rate Actual --  6.01 %.
  10. Eight Plan (1992-1997) :-----     Rapid Economic growth , high growth of agriculture and ollied sector .  Growth Rate Average --  5.6 % / Growth Rate Actual --  6.5 %.
  11. Ninth Plan (1997-2002) :-----     Growth with social justice and social equality. / Growth Rate Average --  6.5 % / Growth Rate Actual --  5.4 %.
  12. Tenth Plan (2002-2007) :-----    Development of infrastructure , employment and energy resources. / Growth Rate Average --  8.6 % / Growth Rate Actual --  7.6 %.
  13. Eleventh Plan (2007-2012) :-----     With rapid economic development increase in per capital income and growth. / Growth Rate Average -- 9.0 % / Growth Rate Actual -- 8.20 %.
  14. Twelve Plan (2012-2017) :-----     Faster, sustainable and more growth fiscal deficit sided at 3.25% of GDP. / Growth Rate Average -- 9.0 % / Growth Rate Actual --
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