The Five Year Plan was first started by Joseph Stalin in 1928 in the Soviet Union. After this, the form of the Five Year Plan was also accepted in other communist and capitalist countries. The Five Year Plan is India's national and centralized plan. India's first Prime Minister Jawaharlal Nehru presented before the Parliament on 1 April 1951 the country's first five-year plan based on the socialist model.
The Planning Commission in India oversees the implementation of the Five Year Plan, which was established in 1950. The Planning Commission was renamed as NITI Aayog on 1 January 2015. Five-year plans are also evaluated periodically. The final approval of the Five Year Plans is made by the National Development Council, which was established in 1952.
The first five-year plan started in 1951, which was based on the Herald Domar Samridhi model. Agriculture and irrigation were given priority in this model. Under this scheme, in 1952, the National Development Service was started in 1953, the Community Development Program. Apart from this, such multipurpose projects like Bhakra Nagal Damodar Valley and Hirakunj were also made in this scheme. It was a successful scheme in which the growth rate was more than the target growth rate.
Target Growth Rate - 2.1
Achieved Growth Rate - 3.0
The plan was based on the PC Mahalnovis model. Heavy industries were promoted. Under this, the foundations of Rourkela Orissa Bhilai Chhattisgarh, Durgapur West Bengal Steel Factories were laid. Apart from this, Integral Coach Factory, Chittaranjan Locomotive was also established. This scheme is also known as a materialistic scheme. India Aid Club was established under this scheme.
Target Growth Rate - 4%
Achieved Growth Rate - 4.27
This self-sufficient scooty is also known as the latter scheme. Its main objective was to make the economy dynamic and self-reliant. The scheme was based on the prosperity model of John Sandy and Sukhmay Chaturvedi. The plan was unsuccessful due to the severe famine in the Indo-Pak War 1965–66 and India-china War in 1962. The rupee was devalued for the first time under this scheme. At the same time, Bokaroil and Steel Industry was established in Jharkhand in collaboration with Russia. The Unit Trust of India and the Industrial Development Bank of India were established in 1964. The Food Corporation of India and the Agricultural Price Commission were established in 1965. After the failure of this scheme, the Government of India followed the triple down theory in the first, second and third five-year plans.
Target Growth Rate - 5.6
Achieved Growth Rate - 2.4
Due to the failure of the Third Five Year Plan, 3 annual schemes were run from 1966 to 1969. This time is called Planning Holiday. Green Revolution was started in 1966-67 during the planning holiday itself.
The aim of the Fourth Five-Year Plan was to achieve economic growth and greater self-sufficiency with stability. The plan was drafted by Dr. R. Godgill, the vice president. In July 1969, 14 national commercial banks were nationalized. This was followed by the first nuclear test smiling Buddha in 1974. Under any scheme, the drought-prone area program 1973-74 and family planning program was started. Unfavorable weather and arrival of Bangladeshi refugees was the reason for the failure of the scheme.
Target growth rate 5.6
Achieved Growth Rate 3.3
The main objective of this scheme was to eradicate poverty and achieve self-sufficiency. After the Janata government led by Morarji Desai came to power in 1978, the scheme was discontinued 1 year ago. The scheme was based on the DP Dhar model and a minimum requirements program was introduced in 1974 under the scheme. The Regional Rural Bank was established on 2 October 1975. The 20-point program started in 1975. The Grain-to-Work Program was launched in 1977-78. The rolling plan based on Gunnar Myrdal's model was started from 1977 to 1980 as the fifth five-year plan was finished by the Janata government 1 year earlier. At this time the Planning Commission DT Lakdawala was the vice president of the policy and the credit for implementing it in India goes to Niti Lakdawala. In 1979, the Rural Youth Self-Employment Test Work Program, TriCeam was launched. Later it was called Golden Jubilee in 1999 Village self-employment project merged. This scheme could run only for 2 years because the Janata government fell. Again the Congress Government started the Sixth Five Year Plan in 1980. In the fifth five Year Plan itself, poverty and unemployment were first noticed. In the fifth five-year plan, the slogan of poverty removal was given.
Target Growth Rate - 4.4
Achieved Growth Rate - 4.8
The main objectives of the scheme were poverty prevention, modernization of economic development, self-reliance, and social justice. In this scheme programs for rural unemployment were eliminated all over the country like IRDP, NERP, TRYSEM, Dwarka DWA, CRA, RLEGP, etc. l In the Sixth Five Year Plan To measure poverty, coordinates were made which were set for 2400 calories rural and 2100 calories urban areas. That is, those consuming fewer calories per day will be considered below the poverty line. 6 banks were also nationalized in 1980. Exim Bank was established in 1982 and NABARD was established on 2 October 1982.
Target Growth Rate - 5.2
Achieved Growth Rate - 5.4
The main objective of the scheme was to emphasize prosperity, modernization, self-reliance, and social justice. The plan was prepared by Ramakrishna Hagar. The Jawahar Rozgar Yojana was launched in 1989 in the Indira Awaas Yojana 1985-1986 during the period of this plan. Speed Post was started in 1986, Cabard was started in 1986 for the development of the village, and SEBI was established in 1988.
Target Growth Rate - 5.0%
Achieved Growth Rate - 6.0%
Due to political instability, the plan could not be implemented in 1990-1992 and two annual plans were launched in 1990-1991 and 1991-1992. In 1991, Finance Minister Manmohan Singh of Narsimha Rao's government introduced economic policy, ie liberalization, globalization. And started privatization. SIDBI was established in 1990 for the development of small-scale industries.
The main objective of the eighth five-year plan was to develop human resources. The framework of this scheme was formulated by Praveen Mukherjee. During the tenure of this plan, India became a member of the World Trade Organization on 1 January 1995. The Prime Minister's Employment Scheme was launched in 1993.
Target Growth Rate - 5.6%
Achieved Growth Rate - 6.8%
The main objective of the Five Year Plan was "Social Justice and Equality with Economic Prosperity". With this, special emphasis was given to four areas such as self-employment, self-reliance, and regional balance.
Target Growth Rate - 7.0
Achieved Growth Rate - 5.6
The plan was based on the input-output model. The main objective of this scheme was to reduce the poverty ratio from 26 to 21. He set a target to bring 15% by 2011. The aim was to double India's per capita income in the next 10 years. The highest growth rate of the Indian economy was 9.6% in 2006-07.
Target Growth Rate - 7.9%
Achieved Growth Rate - 7.7%
The scheme was designed with a view to accelerating and inclusive growth, with a target of 8% of GDP, while achieving 7.5%. The scheme was prepared by C. Rangarajan.
The scheme was launched with the goal of rapid sustainable, inclusive growth, with an annual growth rate of 8% of GDP. This 4% in the agriculture sector 9.6% in the industry 10% in the service sector, the savings rate declared was 36.2% of GDP, 8.7% of the investment rate. The target was to keep the fiscal deficit at 3.2% of GDP. The current account kept at 2.5% of GDP. The wholesale price index was targeted to limit the average growth from 4.5 to 5%. The objective of this scheme was to reduce poverty by 10%.
The 12th Five-Year Plan was the last five-year plan. NITI Aayog is currently functioning as a think tank in its place. NITI Aayog is an advisory body that is not mentioned anywhere in the Constitution.
Gives final approval to five-year plans - National Development Council
The main goal of India's first five-year plan was - Development of the agriculture sector
Poverty removal slogan was given in India - In the fifth five-year plan
Mixed Economy Adopted in India - In the Second Five-Year Plan
Planning holiday declared - After the Third Five Year Plan
Jawahar scheme started - In the seventh five-year plan
Standards adopted for measuring employment - In the Sixth Five Year Plan
The plan was made keeping in mind the period of 15 years - Plan Sixth Five Year Plan
The third plan laid maximum emphasis on - Agriculture sector
Minimum Requirements Program launched - Fifth Five Year Plan
India's agricultural growth rate highest - In the fourth five-year plan
Emergency was imposed during this plan and new elections were held and Janata Party government was elected - Fifth Five Year Plan
The plan was only 4 years old - Fifth Five Year Plan
Most Unsuccessful Five-Year Plan - Third Five-Year Plan
Most Successful Five-Year Plan - Tenth Five-Year Plan