Planning Commission (1951- 2014) was set up on March 15, 1950. The Five year plan system was borrowed from Russia by Former Prime Minister Jawaharlal Nehru. From Jan 1, 2015 the planning commission was replaced by Niti Aayog.
The first five-year plan in India was launched in 1951. India had launched 12th five-year plans in 2012-17. Now the concept of the five-year plan is stopped by the Government of India. List of all Five Year Plans of India is very important for all types of competitive exams to be held in India.
1. First Five Year Plan:
1. It was made for the duration of 1951 to 1956.
II. It was based on the Harrod-Domar model.
III. Its main focus was on the agricultural development of the country.
IV. This plan was successful and achieved growth rate of 3.6% (more than its target)
2. Second Five Year Plan:
I. It was made for the duration of 1956 to 1961.
II. It was based on the P.C. Mahalanobis Model.
III. Its main focus was on the industrial development of the country.
IV. This plan was successful and achieved a growth rate of 4.1%
3. Third Five Year Plan:
I. It was made for the duration of 1961 to 1966.
II. This plan is called ‘Gadgil Yojna’ also.
III. The main target of this plan was to make the economy independent and to reach the self active position of take-off.
IV. Due to china war, this plan could not achieve its growth target of 5.6%
4. Plan Holiday:
I. The duration of the plan holiday was from 1966 to 1969.
II. The main reason behind the plan holiday was the Indo-Pakistan war & failure of the third plan.
III. During this plan, annual plans were made and equal priority was given to agriculture its allied sectors and the industry sector.
5. Fourth Five Year Plan:
I. Its duration was from 1969 to 1974.
II. There were two main objectives of this plan i.e. growth with stability and progressive achievement of self-reliance.
III. During this plan, the slogan of “Garibi Hatao” is given during the 1971 elections by Indira Gandhi.
IV. This plan failed and could achieve a growth rate of 3.3% only against the target of 5.7%.
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