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EDUindex News

GOALS OF THE FIVE-YEAR PLANS

The five-year plans were introduced in order to create a developed economy for India by removing the economic backwardness. It also ensures that the weaker section are a part of the economic progress of the country. The first plan was launched on 1st April 1951. All these plans had some basic goals to achieve in order to ensure the growth of the economy. 

1.GROWTH 

This goal was aimed towards the increase in the capacity of the country to produce goods and services. The growth can be various forms – a large size of supporting services, a large stock of capital or increase in the efficiency of the capital. The growth of a country can be measured by the increase in its Growth Domestic Product (GDP) which refers to the market value of all the final goods and services produced in a country. 

2.MODERNISATION 

This aimed at the adoption of new technology and changes in the society. The agenda was to increase the production of goods and services through the use of modern technology and also change in social outlook like equality to women. 

3.SELF-RELIANCE 

The aim over here was to make the economy self-reliant. It means overcoming the needs of external assistance or developing without using external resources. High usage of domestic resources was encouraged in this goal. This was done to reduce our dependence on foreign countries so that there will be no foreign interference in the policies of our own country. 

4.EQUITY 

The aim was to make sure that every citizen’s basic needs are fulfilled, and inequalities are reduced. It is important the benefits of the economic growth are availed by all the sections of the society regardless of their class or wealth. A close attention was to be paid to make that the standard of living of all the people is raised and social justice is promoted. 

However, each and every goal cannot be given equal importance under the same plan. Each plan launched in each five year had different goals to achieve.

FIVE YEAR PLANYEARGOAL
First1951-56Development of primary sector
Second1956-61Development of public sector
Third1961-66Overall development and independent economy
Plan holiday1966-69Priority to agriculture and industry
Fourth1969-74Development of agriculture
Fifth1974-79Employment and poverty
Plan holiday1979-80Overcome the rigidity of five-year plan
Sixth1980-85Liberalization and elimination of price control
Seventh1985-90Increase in economic productivity
Plan holiday1990-92Increase in economic productivity
Eight1992-97Modernization and economic reforms
Ninth1997-2002Promotion of economic and social growth
Tenth2002-2007Reduction in poverty and gender gaps in literacy
Eleventh2007-12Rapid and inclusive growth
twelfth2012-17Faster and sustainable growth

There were no official plans made after this due to the dissolvement of the planning commission. Although, the five-year defence plans are continued to be made.