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The first Indian prime minister, Jawaharlal Nehru, presented the First Five-Year Plan to the Parliament of India and needed urgent attention. The First Five-year Plan was launched in 1951 which mainly focused in the development of the primary sector. The First Five-Year Plan was based on the Harrod–Domar model with few modifications.
The model was created as an analytical framework for India's Second Five-Year Plan in 1955 by appointment of Prime Minister Jawaharlal Nehru, as India felt there was a need to introduce a formal-plan model after the First Five Year Plan (1951–1956). The First Five-Year Plan stressed investment for capital accumulation in the spirit of the one ...
The government intends to reduce poverty by 10 per cent during the 12th Five-Year Plan. Mr Ahluwalia said, "We aim to reduce poverty estimates by 2 per cent annually on a sustainable basis during the Plan period". According to the Tendulkar methodology, the percentage of population below the poverty line was 29.8 per cent at the end of 2009 ...
The 1956 policy continued to constitute the basic economic policy for a long time. This fact has been confirmed in all the Five-Year Plans of India. According to this resolution the objective of the social and economic policy in India was the establishment of a socialistic pattern of society. It provided more powers to the governmental machinery.
The government was even able to exceed the targeted growth figure with an annual growth rate of 5.0–5.2% over the five-year period of the plan (1974–79). [ 1 ] [ 4 ] The economy grew at the rate of 9% in 1975–76 alone, and the Fifth Plan, became the first plan during which the per capita income of the economy grew by over 5%.
Five-Year Plans of Vietnam, a series of economic development initiatives; Five-year plan of Yugoslavia, which existed from 1946 to 1951; First Malayan Five-Year Plan, the first economic development plan launched by the Malayan government, just before independence in 1957; Five years plan to governing aborigines – Japanese plan in the early ...
The second five-year plan of India was a brainchild of Mahalanobis. The plan followed the Mahalanobis model, an economic development model developed by Mahalanobis in 1953. The plan attempted to determine the optimal allocation of investment between productive sectors in order to maximise long-run economic growth .
In its 11th five-year plan for the financial year 2007-12 suggested actions to increase the skilled workforce in the country to 15 million annually and targeted to skill 150 million people by 2022. In line with the recommendations in the five-year plan and to mitigate the challenges faced by the economy of the shortage of the skilled workforce.