What is the Fundamental Principles of the Five Year Plan ?
Answers
Answer:
The guiding principles were growth, modernization, self-reliance, and social justice
Answer:
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.
Explanation:
Five-Year Plans, method of planning economic growth over limited periods, through the use of quotas, used first in the Soviet Union and later in other socialist states. In the Soviet Union, the first Five-Year Plan (1928–32), implemented by Joseph Stalin, concentrated on developing heavy industry and collectivizing agriculture, at the cost of a drastic fall in consumer goods. The second plan (1933–37) continued the objectives of the first. Collectivization led to terrible famines, especially in the Ukraine, that caused the deaths of millions. The third (1938–42) emphasized the production of armaments. The fourth (1946–53) again stressed heavy industry and military buildup, angering the Western powers. In China, the first Five-Year Plan (1953–57) stressed rapid industrial development, with Soviet assistance; it proved highly successful. Shortly after the second plan began in 1958, the Great Leap Forward was announced; its goals conflicted with the five-year plan, leading to failure and the withdrawal of Soviet aid in 1960.