List the five year plan and its importance in the economic planning of india
Answers
1. First Five Year Plan:
II. It was based on the Harrod-Domar model.
III. Its main focus was on the agricultural development of the country.
IV. This plan was successful and achieved growth rate of 3.6% (more than its target)
2. Second Five Year Plan:
II. It was based on the P.C. Mahalanobis Model.
III. Its main focus was on the industrial development of the country.
IV. This plan was successful and achieved growth rate of 4.1%.
3. Third Five Year Plan:
II. This plan is called ‘Gadgil Yojna’ also.
III. The main target of this plan was to make the economy independent and to reach self active position of take off.
IV. Due to china war, this plan could not achieve its growth target of 5.6%
5. Fourth Five Year Plan:
II. There were two main objective of this plan i.e. growth with stability and progressive achievement of self reliance.
III. During this plan the slogan of “Garibi Hatao” is given during the 1971 elections by Indira Gandhi.
IV. This plan failed and could achieve growth rate of 3.3% only against the target of 5.7%.
6. Fifth Five Year Plan:
II. In this plan top priority was given to agriculture, next came to industry and mines.
III. Overall this plan was successful which achieved the growth of 4.8% against the target of 4.4%.
IV. The draft of this plan was prepared and launched by the D.P. Dhar. This plan was terminated in 1978.