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EconomicsNotesonFiveYearPlansofIndia
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Economics Notes on Five
Year Plans of India
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Posted in GK, Study Notes On May 31, 2016
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Dear Readers, Economicscovers a good numberof
questions making it an important topic to cover in SSC
Poll Railway Exam 2016
Exams. Around 5-8 questionsare asked from this section
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2016 Exam
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which surely makes it important for you to study the topic
well for upcoming SSC Exams. Here are all about Five Year
Plans of Indiawhichyou should not ignore for various
competitive exams.
60 - 70
71 - 80
Five-Year Plans
81 - 90
When India became an independent country, many
91+
questions had arisen in front of the countrys leaders at
that time. The British had left the Indian economy
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handicapped; leaders had the challenges to make countrys
economy strong. A formal model of planning was adopted.
The Planning commission was established on 15th March
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1950, with Former Prime Minister Jawaharlal Nehru as the
Chairman. The Planning Commission is directly reporting to
the Prime Minister of India. Now, it is known as NITI Aayog
(National Institute for Transforming India Aayog) and
established by Prime Minister Narendra Modi on 1st
January 2015.
Planning Commission was assigned the task of formulating
plans for the most eective and balanced utilisation of
resources and determining priorities. Since then the
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EconomicsNotesonFiveYearPlansofIndia
Planning Commission frames the centralized and
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integrated national economic programs at the interval of
every ve years, thereby known as the Five-Year Plans.
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The First Five-Year Plan of India was presented by Pandit
Jawaharlal Nehru in 1951.
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First Plan (1951-56):
It was based on Harrod-Domar Model.
Focus on Agriculture, Price Stability, Power and
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Transport
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It was a successful plan primarily because of good
harvests in the last two years of the plan.
Second Plan (1956-61):
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It also called Mahalanobis plan named after the well
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known economist.
Focus on rapid industrialization
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Advocated huge imports through foreign loans.
Shifted basic emphasis from agriculture to industry
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During this plan prices increased by 30%, against a
decline of 13% during the First plan
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Third Plan (1961-66):
It stressed agriculture and improvement in the
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production of wheat, but the brief Sino-Indian war of
1962 exposed weaknesses in the economy and
shifted the focus towards the defence industry and
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the Indian Army.
Complete failure in reaching the targets due to
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unforeseen events-Chinese aggression (1962), IndoPak war (1964), severe drought 1965-66.
Three Annual Plans (1966-69):
Prevailing crisis in agriculture and serious food
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EconomicsNotesonFiveYearPlansofIndia
shortage necessitated the emphasis on agriculture
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during the Annual Plans
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During these plans a whole new agricultural strategy
was implemented. It involving wide-spread
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distribution of high-yielding varieties of seeds,
extensive use of fertilizers, exploitation of irrigation
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potential and soil conservation.
During the Annual Plans, the economy absorbed the
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shocks generated during the Third Plan.
Fourth Plan (1969-74):
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simultaneously
Main emphasis was on growth rate of agriculture to
enable other sectors to move forward
First two years of the plan saw record production. The
last three years did not measure up due to poor
monsoon
Inux of Bangladeshi refugees before and after 1971
Indo-Pak war was an important issue
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Fifth Plan (1974-79):
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It proposed to achieve two main objectives: removal
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of poverty (Garibi Hatao) and attainment of self
reliance
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Promotion of high rate of growth, better distribution
of income and signicant growth in the domestic rate
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of savings were seen as key instruments
The plan was terminated in 1978 (instead of 1979)
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when Janta Party government rose to power
Rolling Plan (1978-80):
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Janta government put forward a plan for 1978- 1983.
However, the government lasted for only 2 years.
Congress government returned to power in 1980 and
launched a dierent plan.
Sixth Plan (1980-85):
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EconomicsNotesonFiveYearPlansofIndia
Focus Increase in national income, modernization of
technology, ensuring continuous decrease in poverty
and unemployment, population control through
family planning etc
Seventh Plan (1985-90):
Focus rapid growth in food-grains production,
increased employment opportunities and productivity
within the framework of basic tenants of planning
The plan was very successful, the economy recorded
6% growth rate against the targeted 5%
Eight Plan (1992-97):
The eighth plan was postponed by two years because
of political uncertainty at the centre
Worsening Balance of Payment position and ination
during 1990-91 were the key issues during the launch
of the plan
The plan undertook drastic policy measures to
combat the bad economic situation and to undertake
an annual average growth of 5.6%
Some of the main economic outcomes during eighth
plan period were rapid economic growth, high growth
of agriculture and allied sector, and manufacturing
sector, growth in exports and imports, improvement
in trade and current account decit
Ninth Plan (1997-2002):
It was developed in the context of four important
dimensions: Quality of life, generation of productive
employment, regional balance and self-reliance.
Tenth Plan (2002-2007):
To achieve 8% GDP growth rate
Reduction ofpoverty ratioby 5 percentage points by
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EconomicsNotesonFiveYearPlansofIndia
2007
Providing gainful high quality employment to the
addition to the labour force over the tenth plan
period
Universal access to primary education by 2007
Reduction in gender gaps in literacy and wage rates
by atleast 50% by 2007 Reduction in decadal rate of
population growth between 2001 and 2011 to 16.2%
Increase in literacy rate to 72% within the plan period
and to 80% by 2012
Increase in forest and tree cover to 25% by 2007 and
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Cleaning of all major polluted rivers by 2007 and
other notied stretches by 2012.
Eleventh Plan (2007-2012):
AccelerateGDPgrowth from 8% to 10%. Increase
agricultural GDP growth rate to 4% per year
Create 70 million new work opportunities and reduce
educated unemployment to below 5%
Raise real wage rate of unskilled workers by 20 %
Lower gender gap in literacy to 10 percentage point.
Increase the percentage of each cohort going to
higher education from the present 10% to 15 %
ReduceTotal Fertility Rateto 2.1
Raise the sex ratio for age group 0-6 to 935 by 201112 and to 950 by 2016-2017
Provide clean drinking water for all by 2009
AttainWHOstandards of air quality in all major cities
by 2011-12
Increase energy eciency by 20 percentage points by
2016-17
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EconomicsNotesonFiveYearPlansofIndia
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