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The Five-Year Plans of India were a series of national development programmes implemented by the Government of India from 1951 to 2017. [1] Inspired by the Soviet model, these plans aimed to promote balanced economic growth, reduce poverty and modernise key sectors such as agriculture, industry, infrastructure and education.
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 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%. [19]
The Planning Commission was an institution in the Government of India which formulated India's Five-Year Plans, among other functions.. In his first Independence Day speech in 2014, Prime Minister Narendra Modi announced his intention to dissolve the Planning Commission.
Five-Year Plans of Ethiopia; Five-Year Plans of India, which existed from 1947 to 2017; Five-Year Plans of Nepal; Five-Year Plans of Pakistan, centralized economic plans and targets as part of economic development initiatives; Five-Year Plans of Romania, economic development projects in Communist Romania, largely inspired by the Soviet model
12th Five Year Plan of the Government of India (2012–17) was India's last Five Year Plan. [1]With the deteriorating global situation, the Deputy Chairman of the Planning Commission Mr Montek Singh Ahluwalia has said that achieving an average growth rate of 8 per cent in the next five years is not possible.
Eighth Five Year Plan (1992 - 1997) was for managing the transition from a centrally planned economy to market led economy through indicative planning. India was a leader in the non-aligned movement and sought to maintain a neutral stance during the Cold War.
The meeting was presided over by Dr Manmohan Singh Prime Minister of India. Dr Montek Singh Ahluwalia, the Dy Chairman of Planning Commission, raised six major issues for consideration at the NDC: 1. Determining the state level five year plans for the Twelfth Plan period early and set targets for growth and other social indicators.