Question

explanation about five year plan​

Answer 1

Five-Year Plans (FYPs) are centralized and integrated national economic programs. Joseph Stalin implemented the first Five-Year Plan in the Soviet Union in 1928. Most communist states and several capitalist countries subsequently have adopted them

The First Five-Year Plan was one of the most important, because it had a great role in the launching of Indian development after Independence. Thus, it strongly supported agriculture production and also launched the industrialization of the country (but less than the Second Plan, which focused on heavy industries). It built a particular system of mixed economy, with a great role for the public sector (with an emerging welfare state), as well as a growing private sector

Answer 2

Answer:

Economic planning is an instrument to attain a set of well defined objectives within a definite time period as determined by a central planning agency.In, India the plan is formulated for a period of five years. In general main objectives of planning in India are to raise the ratr of growth of the economy, to remove Socio-economic inequalities, to remove poverty, to ensure sustainable economic development without causing damage to the environment and so on.Right from the first five year plan down to the thirteenth five yeat plan, the Planning Commission of India formulated the objectives, prepared the strategy of investment, explored the ways of mobilisation of resources and monitor the progress of the various schemes and the projects covered by the plan.

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