Question

Write a short note on Success and Failures of Five year Plans in India.

Answer 1

Answer:

• Achievements of Five Year Plans. Increase in National Income. Increase in Per Capita Income. Increase in Rate of Capital Formation. Growth of Agricultural Sector. Development of Industries. Development of Economic Infrastructure. Development of Social Infrastructure.
• Failures of Economic Planning.

Answer 2

Answer:

Achievements of Planning:

• A Higher Growth Rate:
• Growth of Economic Infrastructure:
• Development of Basic and Capital Goods Industries:
• Higher Growth of Agriculture:
• Savings and Investment:
• Inadequate Growth Rate:
• Whither India's Socialistic Society:
• Economic Inequality and Social Injustice:

Failures

In the five year plan, growth rate of production was slow in many sectors. Priority should have been given to the development of agriculture in all the plans, but it was not done. Capital intensive industries in urban areas were given precedence over small scale industries in the rural areas.

Explanation:

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