FIRST FIVE YEAR PLAN (1951-1956) | - Under the control of Nehruji this was decided that the country will follow 5-year plan as USSR (Russia) if following for the growth & development of country.
- This plan was based on Harrod-Domar Model.
- The main motive of this plan was economic development in the field of Agriculture. At that time agriculture sector was known as the backbone of the country.
- For agriculture irrigation programs were developed and dams were built (Bhakra Nangal Dam).
- For this plan growth rate targets were set up to 2.1% and the growth rate was achieved 3.6%.
- By the end of 1956, 5 Indian Institute of technology were established.
| |
SECOND FIVE YEAR PLAN (1956-1961) | - This plan was led by under the leadership of P.C Mahalnobis.
- There was a shift from agriculture sectoer to Industrial sector and the main objective was structural transformation
- Many of steel plants were established in Bhilai, Durgapur, Rourkela etc.
- At this time foreign exchange were developed.
- Heavy taxes were imposed on imports.
- The growth rate target was set up to 4.5% and was achieved 4.27%.
| |
THIRD FIVE YEAR PLAN (1961-1966) | - This plan has a great economic instability due to the war of 1962 (China- India) and 1965 with Pakistan.
- Green Revolution was started under the leadership of M.S Swaminathan in the western parts of the country. HYV seeds were used for the production of rice, wheat which in turn increased the production in the field of agriculture.
- The growth rate target was set up to 5.6% but was achieved only 2.4%
| |
| | - The period of 1966 to 1969, these were declared as a PLAN HOLIDAYS due the instability situation of the country. There were several problems such as wars, droughts situations, devaluation of rupees etc.
| |
FOURTH FIVE YEAR PLAN (1969-74)
| - This Plan was based on GADGIL FORMULA and was introduced by the Prime Minister Indra Gandhi.
- The government nationalized 14 major Indian Banks and Green Revolution boosted the agriculture sector.
- Drought Prone Area Program was launched.
- The growth targets were 5.6% and was achieved only 3.3%.
| |
FIFTH FIVE YEAR PLAN (1974-1978) | - The main objective of this program was to increase employment and reduce poverty (Garibi Htao).
- 1975-1977 Emergency was imposed in the whole country.
- In this plan Indian National Highways System was introduced.
- The growth rate target was up to 4.4% and was achieved 4.8%.
| |
ROLLING PLAN (1978-1980) | - This was the period of instability, under the government of Moraji Desai the 5-year plans were rejected and 6-year plan was introduced.
- But in turn, was rejected by Indian National Congress in 1980 upon the re-elections of Indra Gandhi.
| |
SIXTH FIVE YEAR PLAN (1980-1985) | - This plan was the beginning of the economic Liberation by eliminating price controls. End of Nehruvian Socialism.
- To prevent Overpopulation, families planning was done.
- The growth target was 5.2% and was achieved 5.7%.
| |
SEVENTH FIVE YEAR PLAN (1985-1990) | - This plan was led by under the leadership of Rajiv Gandhi.
- The objective of the plan was to increase economic productivity, provide employment, increasing production of food grains.
The growth target was set up to 5.0% and was achieved 6.01%. |
ANNUAL PLAN (1990-1992) | - 8th five-year plan was not started from the year 1990 and the following years 1990,1991,1992 were considered as an annual plan.
- At this time economic was unstable, faced crisis of foreign exchange.
- This was the time when NEW ECONOMIC POLICY was introduced under the leadership of P.V Narsimha Rao.
|
EIGTH FIVE YEAR PLAN (1992-1997) | - This plan promoted modernization of industries.
- India became one of the members of World Trade Organization on 1 Jan 1995.
- The motive of this plan was to oversee the population growth, reduce poverty, generate employment, manage tourism and strengthens the development of infrastructure.
- Panchayats and Nagar Palikas were decentralized.
- The growth target was 5.6% and was achieved 6.8%.
|
NINTH FIVE YEAR PLAN (1997-2002) | - This plan was led by the Prime Minister Atal Bihari Vajpayee.
- The main objective was to eliminate the poverty and witness efforts of both private and public sector.
- The growth target was 7% and was achieved 6.8%.
|
TENTH FIVE YEAR PLAN (2002-2007) | - The objective of this plan was to promote inclusive growth and development.
- Aimed at reducing poverty and creating employment and intended the GDP 8% per year.
- The growth target was 8% and was achieved at 7.6%.
|
ELEVENTH FIVE YEAR PLAN (2007-2012) | - This plan was aimed to increase enrollment in higher education and focused on distance education as well as IT industries and focuses on environment sustainability &reduction in agenda inequality.
- This Plan was prepared by C Rangarajan.
- The objective was to provide clean drinking water for all by 2009.
- The growth target was 9% and was achieved 8%.
|
TWELETH FIVE YEAR PLAN (2012-2017) | - This was the last 5-year plan as “faster, more inclusive &sustainable growth” as its theme.
- Aimed at strengthening infrastructure project, providing electricity supply in all villages.
- The target growth was 9% and 8% was achieved.
|
