“Five Year Plans of India”
RAVI RANJAN SINGH
Members Of Planning Commission Of India
Deputy Chairman Member Secretary -
Dr. Manmohan Singh
Shri Montek Singh Ahluwalia
Ms Sindhushree Kullar
Why to Plan ???
After independence, India was in dire conditions and needed to start acting soon
Some of the problems necessitated need for an immediate
Vicious circle of poverty
Need for Rapid industrialization
Development of Natural resources
Capital Deficiency & Market imperfections
First Five Year Plan
Introduced by the then PM Pt. J. Nehru between the period 1951-56 The one responsible -- Planning Commission
Improve living standards of the people in India which was possible by making judicious use of Natural Resources.
Total outlay of this plan -- A massive Rs.`2069 Cr
The segregation –
Development of Agri & community
Importance was given to agri and irrigation; Power to decrease reliance on Food Grain, Imports & resolve Food crisis
A few things that happened …………
Mettur, Hirakud & Bhakra Dams were a few projects that were started Govt. decides to improve Railway Services, Road tracks & Civil Aviation, also decides to provide sufficient funds to the Industrial sector & to take measures for the growth of SSI’s.
The growth in GDP achieved by India was 3.6% p.a.
The target was ………………….
Second Five Year Plan
To increase the national income by 25%
To make the country more industrialized
Development of the public sector
To increase employment opportunities so that every citizen gets a job
Five steel mills at Bhilai, Durgapur, and Jamshedpur
Hydroelectric power projects
Production of coal increased
More Railway lines were added in the north east
Improved the living standards of the people
The large enterprises in seventeen industries were nationalized The Tata Institute of Fundamental Research – established in 1957 as a research institute
Atomic Energy Commission -- Homi J. Bhabha (Founder, 1958)
Third Five Year Plan
More stress to agriculture
To increase the national income by 5% per annum
Making India self sufficient in food grains by increasing agricultural production Minimizing rate of unemployment
To establish equality among all the people of the country
The Panchayat Organization was formed
Many primary schools were started in rural areas
State electricity boards and state secondary education boards were formed State road transportation corporations were formed
Many cement and fertilizer plants were also built
Sino-Indian War of 1962 exposed weaknesses in the economy and shifted the focus towards the Defense industry. In 1965-1966, India fought a war with Pakistan. The war led to inflation and the priority was shifted to price stabilization. GDP rate during this duration was lower at 2.7%. 9
Fourth Five Year Plan
(1969 to 1974)
At this time Indira Gandhi was the Prime Minister.
The Govt. nationalized 19 major Indian banks.
To reform and restructure its expenditure agenda (Defense became one major expense)
To facilitated growth in exports
To alter the socio economic structure of the society
Great advancement has been made with regard to India's national income Spending on war efforts reduced industrial spending
Tested the first nuclear weapon with Smiling Buddha in 1974 Considered as one of the emerging powers
Food grains production increased to bring about self sufficiency in production
India was attacked in...
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