Five Year Plans of India

The Planning Commission was constituted in India in 1950. It was a non constitutional and advisory body. Jawaharlal Nehru was the first chairman and Gulsarilal Nanda was the first deputy chairman of the Planning Commission. It is headquartered at Yojana Bhavan. The Planning Commission formulates India's Five Year Plans, among other functions. The Five Year Plans of India were a series of national economic programmes conducted by the Indian Government from 1951 to 2017. The format of First Five Year Plan was implemented in 1951–1956 and the last Five-Year Plan was implemented in 2012–2017.

First Five Year Plan (1951–56)

The First Five Year Plan in India was a period from 1951 to 1956. The plan was presented in Parliament by Jawaharlal Nehru. The plan, which was launched on 1 April 1951, focused on agriculture, irrigation, electrification and family planning. The First Five Year Plan is also known as the 'Agricultural Plan' and the 'Harrod-Domar Model'. The Social Development Plan was launched on 2 October 1952. The aim of the plan was the all-round development of the physical and human resources of the villages. The University Grants Commission (UGC), five IITs, major irrigation projects in India, and the Thottapally Spillway in Kerala (1955) were established during the First Five Year Plan. Major irrigation projects such as Bhakranangal, Hirakud and Damodar Valley were started during the First Five Year Plan. The first plan targeted a growth rate of 2.1 percent but achieved a growth rate of 3.1 percent.

Second Five Year Plan (1956–1961)

The period of the Second Five Year Plan in India was 1956–1961. The plan gave more importance to industrialization and transport development. This plan is known as the Industrial Plan and the Mahalanobis Model. The plan emphasized a mixed economy. The Second Plan also had the objective of "shaping a socialist society", which was adopted by the Congress in Avadi session in 1955. Reducing unemployment and increasing national income were the secondary objectives of the Second Plan. The Durgapur (West Bengal - British aid), Bhilai (Chhattisgarh - Russian aid), and Rourkela (Odisha - German aid) iron and steel plants were built during the Second Plan. The Second Plan, which had targeted a growth rate of 4.5%, achieved a growth rate of 4.3%.

Third Five Year Plan (1961 - 1966)

The period of the Third Five Year Plan in India was 1961 - 1966. The Third Five Year Plan emphasized the self-sufficiency of the economy. The National Dairy Development Board was established in 1965 during the Third Five Year Plan. The Third Plan emphasized For transport, communication, and food self-sufficiency. The Green Revolution began in India in 1965. Due to the India-China War of 1962 and the India-Pakistan War of 1965, and severe drought, the plan, which had a growth target of 5.6%, could only achieve a growth of 2.8%.

Plan Holiday (1966 - 1969)

The Plan Holiday is the three-year period from 1966 to 1969. There were three annual plans from 1966 to 1969. The Plan Holiday was announced when Indira Gandhi was the Prime Minister. The Green Revolution in India began during the annual plans of 1966-69. C. Subrahmanyam was the Union Agriculture Minister. The agricultural strategy devised by the government to deal with the food crisis in the 1960s paved the way for the Green Revolution.

Fourth Five Year Plan (1969 - 1974)

The period of the Fourth Five Year Plan in India was 1969 - 1974. The plan emphasized on sustainable growth, achieving self-reliance and upliftment of the weaker sections. The 'Gadgil Model' was implemented during the Fourth Five Year Plan. In 1969, India's first bank was nationalized and it was also during the Fourth Five Year Plan. In 1970, the National Dairy Development Board implemented 'Operation Flood'. The Indo-Pak war of 1971 and the influx of refugees from Bangladesh led to the failure of the plan. The plan was able to achieve only 3.3% growth against the target of 5.7%.

Fifth Five Year Plan (1974 - 1979)

The period of the Fifth Five Year Plan in India was 1974 - 1979. The plan focused on poverty alleviation and self-sufficiency. The Command Area Development Plan was launched in 1974-75 to boost agricultural production. The Twenty-Point Programme was launched in 1975 with the aim of eradicating poverty and improving the standard of living of the common man. Indira Gandhi's slogan 'Garibi Hatao' is associated with the Fifth Five Year Plan. The declaration of Emergency and subsequent political changes hindered the smooth implementation of the Fifth Plan. The Morarji Desai government ended the Fifth Plan a year early in 1978. The plan, which had a growth rate target of 4.4%, achieved a growth rate of 4.8%.

Rolling Plan

During the rule of Morarji Desai's Janata government, 'Rolling Plans' were implemented during the period 1978-80. This plan means "growth for social justice" instead of "growth with social justice". A rolling plan is a plan that varies over time. The concept of a 'rolling plan' was first introduced by economist Gunnar Myrdal. His famous work is Asian Drama.

Hindu Rate of Growth

The term Hindu Rate of Growth is used to refer to the very low growth rate of the Indian economy during the period 1950-1980. The average growth rate of the Indian economy during the period 1950 to 1980 was 3.5 percent. The term was coined by economist Raj Krishna.

Sixth Five Year Plan (1980-1985)

The period of the Sixth Five Year Plan in India was 1980-1985. The main objectives of the Sixth Five Year Plan were to increase national income, modernize existing technology, and eradicate poverty. The DWCRA project was launched during the Sixth Five Year Plan, which aimed at the development of women and children in rural areas. The plan, which had a target growth rate of 5.2%, achieved a growth rate of 5.7%.

Seventh Five Year Plan (1985 - 1990)

The period of the Seventh Five Year Plan in India was 1985-1990. The plan was launched with emphasis on increasing employment opportunities, increasing food grain production, modernization, self-sufficiency, and social justice. This plan enabled India to achieve great progress in the fields of communication and transport. This plan, which had a target of 5.0%, achieved a growth rate of 6.0%.

Annual Plans (1990 - 1992)

'Annual Plans' were implemented in India during the period 1990 - 92. Due to political uncertainty at the Centre, the plan was implemented from 1990 to 31 March 1992. In 1991, the New Economic Policy was implemented during the Annual Plan period. The New Economic Policy brought fundamental changes in India's economic policy.

Eighth Five Year Plan (1992 - 1997)

The period of the Eighth Five Year Plan in India was 1992 - 1997. The basic objectives of the Eighth Five Year Plan were human development and modernization of industries. The main components of the Human Development Plan were the expansion of primary education, clean water supply, more employment opportunities and population control. The National Stock Exchange (1992) and the Panchayati Raj system (April 24, 1993) came into being during the Eighth Five Year Plan. The Eighth Five Year Plan targeted a growth rate of 5.6%. However, it achieved a growth rate of 6.8%.

Ninth Five Year Plan (1997 - 2002)

The Ninth Five Year Plan in India was from 1997 to 2002. The Ninth Five Year Plan was a plan that gave importance to basic infrastructure such as housing assistance for the poor, providing nutrition to children, expanding primary health care, universalizing primary education, and connecting villages to the mainstream. Rural development and decentralized planning were the sub-objectives of the plan. POTA, which was passed by the Indian Parliament to prevent terrorism, came into effect during the Ninth Five Year Plan. The plan targeted a growth rate of 6.5% but achieved a growth of 5.4%.

Tenth Five Year Plan (2002 - 2007)

The Tenth Five Year Plan in India was for the period 2002 - 2007. The objectives of the plan were to reduce gender discrimination in education and employment, reduce maternal and infant mortality rates, increase literacy rates, provide clean drinking water, and improve water resources. The plan focused on achieving a GDP growth rate of 8% every year and creating high-quality jobs. The Tenth Five Year Plan targeted a growth rate of 8% but achieved a growth rate of 7.6%.

Eleventh Five Year Plan (2007 - 2012)

The Eleventh Five Year Plan in India was for the period 2007 - 2012. The Eleventh Five Year Plan was launched with the aim of inclusive growth. The plan prioritized food security.

Twelfth Five Year Plan (2012 - 2017)

The Twelfth Five Year Plan in India was for the period 2012 - 2017. The Twelfth Five Year Plan was launched with the aim of sustainable development, accelerated growth and inclusive growth. The draft of the Twelfth Five Year Plan had targeted a growth rate of 9 percent. However, the National Development Council meeting held in December 2012 reduced it to 8 percent.