12th five year plan targets and achievements and failures in india
Answers
12th five year plan targets achievements and failures in India are:
Achievements of Planning:
1. Increased Growth Rate:
Economic planning targets at bringing about fast economic development in all sectors.
It aims at increased growth rate.
India’s macroeconomic results has been moderately good in terms of GDP rates.
2. Growth of Economic Infrastructure:
India’s results in making required economic infrastructure is really appreciated.
At inception of economic planning road kilometer was 4 lakh kms.
India has now 3 million km of road network making it one of largest in the world.
Other modes of transport like shipping, civil aviation have also widened phenomenally.
3. Development of Basic and Capital Goods Industries:
Major area of success of Indian planning is growth of basic and capital goods industries.
With Mahalanobis tricks for development during Second Plan few basic and capital goods industries like iron and steel has remarkable growth.
4. Higher Growth of Agriculture:
Most important aspect of India’s Five Year Plans is the overall rate of growth of food production has now exceeded rate of growth of population.
Early years of planning agricultural performance was miserable showing the emergence of food crisis.
Due to impact of bio-chemical revolution in Indian agriculture the food crisis seems to be of the past.
5. Savings and Investment:
Rise in domestic savings rate from 10 p.c. of GDP at initial stages of planning to around 19 p.c. in 1980-81 is definitely impressive.
This rate increased to 34.8 p.c. by the end of March 2007.
Major Failures of Planning:
1. Inadequate Growth Rate:
Quantitative terms growth rate of Indian economy may be good but not satisfactory in any standards.
Except the First and Sixth Five Year Plans real growth rate remained below targeted growth rates of GNP and per capita income.
Only in recent plans actual growth rate has exceeded the plan targets.
2. Whither India’s Socialistic Society:
Indian planning targets at making a ‘socialistic pattern of society’ otherwise capitalistic framework through various socialistic measures.
We haven't any important progress towards the aim of attaining socialistic pattern of society even after nearly 58 years of planning.
Concept of socialistic pattern of building society has been discarded when we introduced new economic policy measures in mid-1991.
Indian economy moves on capitalistic path.
3. Economic Inequality and Social Injustice:
Twin aspects of social justice involves one hand i.e. reduction in economic inequalities and on other the reduction of poverty.
Rise in national income with economic power in hands of few people is not wished.
In a capitalist framework inequality the distribution of income and wealth is inevitable.
India’s socio-political set-up has vast inequalities exist.
Indian plans targets at lessening such inequalities so that benefits of economic development percolate down to lower group of the society.
4. Unemployment:
It never got the priority it required.
Employment generation programme has received a bad shock and problem of unemployment is surging one after plan.another.
Answer:
Increased Growth Rate: Economic planning targets at bringing about fast economic development in all sectors. ...
Growth of Economic Infrastructure: ...
Development of Basic and Capital Goods Industries: ...
Higher Growth of Agriculture: ...
Savings and Investment: