FIVE YEAR PLANS OF INDIA
(pic: economic times)
- Five Year Plans were a series of centralized economic plans adopted by the Government of India to guide the country’s economic development.
- The concept was inspired by the Soviet model of planning and was implemented by the Planning Commission, established in 1950.
- The first plan started in 1951, and the series continued until the 12th Five Year Plan, which ended in 2017.
- After 2017, Five Year Plans were discontinued, and the focus shifted to NITI Aayog’s three-year, seven-year, and fifteen-year vision documents.
1.First Five Year Plan (1951–1956)
Focus: Agriculture, irrigation, and land reforms
Model: Based on the Harrod-Domar model
2.Second Plan (1956–1961)
Focus: Industrial development, especially heavy industries
Model: Mahalanobis model
3.Third Plan (1961–1966)
Focus: Self-reliant economy and agriculture
Outcome: Affected by India-China war (1962) and India-Pakistan war (1965)
4.Plan Holiday (1966–1969)
Due to economic instability, there were annual plans instead of a Five Year Plan.
5.Fourth Plan (1969–1974)
Focus: Growth with stability and self-reliance
6.Fifth Plan (1974–1979)
Focus: Poverty alleviation (e.g., Garibi Hatao) and self-sufficiency in food
7.Sixth Plan (1980–1985)
Focus: Technology, infrastructure, and poverty removal
8.Seventh Plan (1985–1990)
Focus: modernization of agriculture and technology upgradation, self-reliance, energy production, and infrastructure development.
9.Eighth Plan (1992–1997)
Launched after a gap due to the Plan Holiday and the economic crisis of 1991.
Focus: economic liberalization, growth with social justice, and infrastructure expansion and marked the start of market-oriented reforms in India.
10.Ninth Plan (1997–2002)
Focus: growth with equity and social sector development.
Aimed to reduce poverty and improve education and health.
11.Tenth Plan (2002–2007)
Focus: 8% GDP growth, education, and infrastructure
12.Eleventh Plan (2007–2012)
Focus: Inclusive growth
13.Twelfth Plan (2012–2017)
Focus: Faster, sustainable, and more inclusive growth