Introduction to Five-Year Plans What are Five-Year Plans? - Economic development strategy - First introduced by the Soviet Union - Adopted by various countries (India, China, etc.)
Key Objectives of Five-Year Plans Main Goals: - Economic growth - Social equity - Modernization - Self-reliance
Evolution of Five-Year Plans Brief Timeline: - Originated in 1928 (Soviet Union) - India started in 1951 - Phases of economic development
First Five-Year Plan (India) Period: 1951-1956 - Focus: Agriculture, irrigation, and power - Achievements: Food grain production and industrialization started
Second Five-Year Plan (India) Period: 1956-1961 - Focus: Rapid industrialization - Emphasized on heavy industries - Based on Mahalanobis Model
Third Five-Year Plan (India) Period: 1961-1966 - Focus: Agriculture and industry - Aim: Self-reliant economy - Faced challenges of wars and drought
Fourth Five-Year Plan (India) Period: 1969-1974 - Focus: Growth with stability - Objectives: Food security and employment generation
Sixth Five-Year Plan (India) Period: 1980-1985 - Focus: Poverty alleviation, modernization - Growth in agriculture and services sectors
Seventh Five-Year Plan (India) Period: 1985-1990 - Focus: Employment generation, social justice - Industrial growth and rural development
Eighth Five-Year Plan (India) Period: 1992-1997 - Focus: Economic liberalization, market reforms - Emphasis on infrastructure development
Ninth Five-Year Plan (India) Period: 1997-2002 - Focus: Social justice and equality - Improvement in health, education, and employment
Tenth Five-Year Plan (India) Period: 2002-2007 - Focus: Growth with equity and social justice - Double-digit GDP growth targeted
Eleventh Five-Year Plan (India) Period: 2007-2012 - Focus: Inclusive growth - Improvement in infrastructure and services
Twelfth Five-Year Plan (India) Period: 2012-2017 - Focus: Faster, sustainable, and more inclusive growth - Emphasized environmental sustainability
End of Five-Year Plans in India Post-2017: Transition to NITI Aayog - Focus on long-term development goals - Shift from central planning to policy formulation
Conclusion Five-Year Plans shaped India's economy - Key instrument for planning and policy - Helped achieve significant growth and modernization