The Five Year Plan is the most important plan in the Central Plans and since the beginning of planning in India, this Five Year Plan has been a continuous process one after the other. A Plan is a political act, so this Five Year Plan has had many ups and downs and many We have seen moments of crisis in the development of plans. Today in this article, we will discuss all the important points related to the plans.
First Five Year Plan.
The timing of the first five-year plan was from 1951 to 1956. Since the economy was struggling with the problems of mines and lack of mines since independence, the first five-year plan was given importance to agriculture. This included irrigation and power projects in agriculture and about 44.6 percent of the cost of the public sector enterprises. Was allocated to
Second Five Year Plan.
The duration of this plan was from 1956 to 1961 because in the last five-year plan there was more emphasis on agriculture to meet the shortage of mines, therefore in the second five-year plan, more emphasis was placed on industrialization, under which five-year plan, heavy industries were given machines This plan was given more importance by Prof. Mahalanobis. The problem of this scheme was the closed or limited economy, lack of mines, and lack of capital and excess of values.
Third five-year plan.
The timing of the Third Five Year Plan was from 1961 to 1966. The first objective of this plan was to develop agriculture. Apart from this, the scheme also moved towards a balanced regional development. The scheme had a lot of problems during this plan. Many wars took place due to which the economy was greatly weakened. And there was a famine in 1965-66 between China and the Second War between India and Pakistan and due to severe drought, this third Five Year Plan failed to achieve its goal due to lack of capital.
Three Annual Plans.
The three annual plans were from 1966 to 1969. It was decided to implement the Fourth Five-Year Plan in 1966 but due to being defeated in the war with China, the morale of the country was broken and there was a lack of capital in the country, due to this, implemented the 1-year plans for 1966-67. In the coming time, the government decided the 1-year plans for the same reasons, the purpose of the resident's schemes was mainly to collect capital for the fourth plane, which was collected through the 1-year plans.
Fourth five-year plan.
The duration of this plan from 1969 to 1974 was based on the Gadgil scheme. The purpose of the Gadgil scheme was to develop continuously and progress towards self-sufficiency. 1971-72 India Pakistan had a financial crisis due to war in the country. Politicization in planning starts with this scheme. Non-plan expenditure became very high due to financial assistance to small industries in this scheme. The main features of this scheme were nationalization. And there was more control over industries till the early 1990s there was no change.
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