FIVE YEAR PLANNING|CUET ECONOMICS| L-8

The Five-Year Plans were laid to rest by the Narendra Modi-led NDA government in 2015. Hence, the 12th five-year plan is considered the last five-year plan of India. The decades-old Five-Year Plans was replaced by a three-year action plan, which will be part of a seven-year strategy paper and a 15-year vision document. The Niti Aayog has replaced the Planning Commission in the Modi Cabinet and launched three-year action plans from April 1, 2017, onwards.

1. First Five Year Plan:

I. It was launched for the duration of 1951 to 1956, under the leadership of Jawaharlal Nehru.

II. It was based on the Harrod-Domar model with a few modifications.

III. Its main focus was on the agricultural development of the country.

2. Second Five Year Plan:

I. It was made for the duration of 1956 to 1961, under the leadership of Jawaharlal Nehru.

II. It was based on the P.C. Mahalanobis Model made in the year 1953.

3. Third Five Year Plan:

I. It was made for the duration of 1961 to 1966, under the leadership of Jawaharlal Nehru.

II. This plan is also called ‘Gadgil Yojna’, after the Deputy Chairman of Planning Commission D.R. Gadgil.

4. Plan Holidays:

I. Due to the failure of the previous plan, the government announced three annual plans called Plan Holidays from 1966 to 1969.

II. The main reason behind the plan holidays was the Indo-Pakistani war and the Sino-India war, leading to the failure of the third Five Year Plan.

5. Fourth Five Year Plan:

I. Its duration was from 1969 to 1974, under the leadership of Indira Gandhi.

II. There were two main objectives of this plan i.e. growth with stability and progressive achievement of self-reliance.

6. Fifth Five Year Plan:

I. Its duration was 1974 to 1978.

II. This plan focussed on Garibi Hatao, employment, justice, agricultural production and defence.

III. The Electricity Supply Act was amended in 1975, a Twenty-point program was launched in 1975, the Minimum Needs Programme (MNP) and the Indian National Highway System was introduced.

7. Rolling Plan:

I. After the termination of the fifth Five Year Plan, the Rolling Plan came into effect from 1978 to 1990.

II. In 1980, Congress rejected the Rolling Plan and a new sixth Five Year Plan was introduced.

8. Sixth Five Year Plan:

I. Its duration was from 1980 to 1985, under the leadership of Indira Gandhi.

II. The basic objective of this plan was economic liberalization by eradicating poverty and achieving technological self-reliance.

9. Seventh Five Year Plan:

I. Its duration was from 1985 to 1990, under the leadership of Rajiv Gandhi.

II. The objectives of this plan include the establishment of a self-sufficient economy, opportunities for productive employment, and up-gradation of technology.

10. Annual Plans:

I. Eighth Five Year Plan could not take place due to the volatile political situation at the centre.

II. Two annual programmes were formed for the year 1990-91& 1991-92.

Nature of Indian Economy: Structure and Key Features

11. Eighth Five Year Plan:

I. Its duration was from 1992 to 1997, under the leadership of P.V. Narasimha Rao.

II. In this plan, the top priority was given to the development of human resources i.e. employment, education, and public health.

12. Ninth Five Year Plan:

I. Its duration was from 1997 to 2002, under the leadership of Atal Bihari Vajpayee.

II. The main focus of this plan was “Growth with Social Justice and Equality”.

13. Tenth Five Year Plan:

I. Its duration was from 2002 to 2007, under the leadership of Atal Bihari Vajpayee and Manmohan Singh.

II. This plan aimed to double the Per Capita Income of India in the next 10 years.

14. Eleventh Five Year Plan:

I. Its duration was from 2007 to 2012, under the leadership of Manmohan Singh.

II. It was prepared by the C. Rangarajan.

15. Twelfth Five Year Plan:

I. Its duration is from 2012 to 2017, under the leadership of Manmohan Singh.

II. Its main theme is “Faster, More Inclusive and Sustainable Growth”.