prepare a note on the milestones in economic planning in India.
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Long term objectives of Five Year Plans in India are:
High Growth rate to improve the living standard of the residents of India.Economic stability for prosperity.Self-reliant economy.Social justice and reducing the inequalities.Modernization of the economy.
The idea of economic planning for five years was taken from the Soviet Union under the socialist influence of first Prime Minister Pt. Jawahar Lal Nehru.
The first eight five year plans in India emphasised on growing the public sector with huge investments in heavy and basic industries, but since the launch of Ninth five year plan in 1997, attention has shifted towards making government a growth facilitator
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