what is the first five year plan
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The government provide a 12th year planning taking the interval of five years.
ayushtony:
what
please explain this
Means there was a 12th year planning before the niti aayog.... When this niti aayong came into being then the 12th year of planning was changed as the new govt decided
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First five year plan:
>> K. N. Raj, a young economist drafted this plan.
>> The first five year plan (1951 - 56) focused on eradication of poverty from the country.
>> It addressed mainly, the Agragarian sector including investment in dams and irrigation.
>> It focused on land reformers as the key to country's development.
>> One of the basis aim of first five year plan was to raise the level of national income.
Drawbacks of first five year plan:
>> The basic aim was to raise the level of national income which was not possible till the people saved more money than they spend.
>> Basic level of spending was very low, so planners try to push savings up.
>> Public's saving could not rise till the end of third five year plan.
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