Economic Planning in India: Part1
For IBPS PO and SSC CGL 2017
History about Economic Plan:
- Each and Every Country there have limited source of Economic growth on which base a skilful plan must be needed to achieve to improve in all the section.
- In 1938 1st National Planning committee Established by the Leadership of Jawahar Lal Nehru.
- 1st introduced about “Planning Economy” by Vishveshwariya in his book “Planned Economy for India” in 1934.
- On August In 1944 “Bombay Plan” introduce by India Government.
- In 1945 M N Rao represents “People’s Plan” and after independence in 1950 J.P.Narayana represent.
- Work: The main focus of Economic Planning in India is to development in Agriculture, Industry, Transport section, Communication etc., and to maintain the plan according to Planning.
- NITI AYOG: on 1st January, 2015 according to planning commission and decision of central Cabinet “The National Institution for Transforming India (NITI ayog)”. The main aim to established good relation between Central and State and good service to the people of India. Chairmen –Narendra Damodar Modi (Prime Minister) and Vice Chairmen- Arbind Panagaria.
- Central Planning Board on 6 august, 1952, Chairmen Prime Minister due to his Power, and other members are Yojjana Commission and central minister, finance minister, leftenent General.
- State Planning Board is maintaining Five year planning in State level. Chairman-chief minister of this state, finance minister of state and other minister and industrial specialist.
- District Planning Committee also has in District level where government and non government member are involved.
Discussion about five year plan:
| Five year plan, period and model. | Target GDP in % | Achievement GDP in % | Aim of this Plan and other activities. |
1st plan (1951-56), Harrod Domar Model
|
2.1
|
3.6
|
The main aim to development of Agriculture which was very successful, and growth rate overcome the target rate due to huge produce in 2 years. Per capita income increase.
|
2nd plan (1956-1961) Prof. P.C.Mahalanobis
|
4.5
|
4.3
|
To establishment of stable economic main focus on “Rapid Industrialisation”, priority on basic and heavy industries, like steel and iron industries, chemical industries, engineering and heavy machine industries.
(Durgapur steel plant, Bhilai Steel plant, Rourkela was established in this plan). All so focus on Communication system and Transport. This plan all so successful and GDP rate 4.3%. |
Third Plan (1961-66) Prof. Saddy and Sukhmoy Chakraborty model
|
5.6
|
2.4
|
Main focus on Agriculture and Industries development, the member of planning commission fill Indian Economic rate rapidly increasing, but due to India-Pakistan war, and India- China war this plan totally failure.
|
Forth five year plan (1969-1974) Ashok Rudra and Alon S. Manney.
|
5.7
|
3.3
|
“Establishment of socialist order” and “Growth with Justice” were the main aim in this plan; “Goribi Hatao” is the main object of this project. At the time of Indo-Pakistan war in 1971 huge people arrival in India from Bangladesh.
|
Five Plan (1974-1979) “Investment Plan of Planning Commission” model.
|
4.4
|
4.8
|
Introduce “National program of minimum needs” introduce in this plan.
Priority on Industries, Mins, agriculture. |
Plan Holiday (from 1966-1967 to 1968-1969):
These three years in history of economic plan of India is called “planed Holiday”. Due to starvation and failure of Agriculture Portion and increasing price level in these three Annual plans was set up in different years. As a result controlling the great failure of 3rd plan.
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