Q2. When did India launch five year plans for all-round economic development ofthe country in?
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Home > Business Economics - CS > Overview of Indian Economy > Five Year Plans of India
Overview of Indian Economy
Five Year Plans of India
Planning plays an important role in the smooth functioning of an economy. In 1950, the Government set up the Planning Commission to create, develop, and execute India’s five-year plans. In the article, we will look at each five year plan of India and how it helps achieve the basic objectives of growth, employment, self-reliance, and also social justice. Further, it also takes into account the new constraints and possibilities to make the necessary directional changes and emphasis.
Objectives of Five Year Plan of India
The objectives of these five-year plans were as follows:
Economic Growth
Economic Equity and Social Justice
Full Employment
Economic Self-Reliance
Modernisation