Key Points
Key Points: Five Year Plans
- India adopted the Five Year Plan model from the USSR (Russia); the Planning Commission was established in 1950 under Jawaharlal Nehru.
- The main aims were agricultural & industrial development, employment generation, poverty reduction, and self-reliance.
- The four goals of planning were Growth, Modernisation, Self-reliance, and Equity.
- The First Plan focused on agriculture, while the Second Plan focused on heavy industries under the Mahalanobis Model.
- Wars, famines, the oil crisis, and political instability affected the success of several plans.
- The Planning Commission was replaced by NITI Aayog (2015), and the Twelfth Plan (2012–17) was the last Five Year Plan.
Concepts [13]
- Introduction to Indian Economy before and After Independence
- Indian Economy During the British Period
- The Land Tenure Systems in India
- Process of Industrial Transition and Colonial Capitalism
- Problems of British Rule
- Important Industrial Policies Prior to 1991
- Large Scale Industries
- Small Scale Industries
- Micro, Small and Medium Enterprises (Msmes)
- Public Sector and Private Sector Banks
- Nationalisation of Banks
- Five Year Plans (FYP)
- Development Indicators
