| Year | Plan |
|---|---|
| First Plan (1951-56) | • aka Harrod-Domar Model • Influx of refugees, severe food shortage & mounting inflation confronted the country at the onset the plan. • The Plan focussed on agriculture, price stability, power and transport. • Successful plan- good harvest, rehabilitation of refugees, food sufficiency and price control. • Targeted growth rate = 2.1 • Actual growth rate = 3.6 |
| Second Plan (1956-61) | • Mahalanobis Plan- Resource allocation to broad sectors such as agriculture and industry. • Focused on rapid industrialisation- heavy and basic industries. • Advocated huge imports through foreign loans. • Socialistic pattern. • Moderately successful- price rise. • Targeted growth rate = 4.5 • Actual growth rate = 4.3 |
| Third Plan (1961-66) | • To make India a self-reliant and self-generating economy. • Agriculture was given top priority to support the exports and industry. • Failed to achieve its target due to droughts and wars with Pak and China. • Green Revolution. • Gadgil formula- determining the allocation of central assistance for state plans in India. • Targeted growth rate = 5.6 • Actual growth rate = 2.8 |
| Plan Holidays(1966-69) | • from 1966 to 1967, 1967–68, and 1968–69. • Tackled problem of drought. • Equal priority was given to agriculture, its allied activities, and industrial sector. •"Devaluation of Rupee" to increase the exports of the country. |
| Fourth Plan (1969-74) | • Growth with stability and self-reliance. • Emphasis on agriculture growth. • Failure- rising prices, Bangladeshi refugees and Indo-Pak war • Nationalisation of Banks. • Targeted growth rate = 5.7 • Actual growth rate = 3.3 |
| Fifth Plan (1974-78) | • Garibi Hatao and self-reliance. • Promotion of high rate of growth, better distribution of income and significant growth in the domestic rate of savings. • Minimum needs programme. • Food for work programme. • Establishment of RRB's. • Targeted growth rate = 4.4 • Actual growth rate = 4.8 |
| Rolling Plan (1978-80) | • The Rolling Plan consisted of three kinds of plans that were proposed. The First Plan was for the present year which comprised the annual budget and the Second was a plan for a fixed number of years, which may be 3, 4 or 5 years. The Second Plan kept changing as per the requirements of the Indian economy. The Third Plan was a perspective plan for long terms i.e. for 10, 15 or 20 years. • Rejected by INC who introduced new 6th year plan. |
| Sixth Plan (1980-85) | • Focussed on increase in national income, modernisation of technology, remove poverty and unemployment . • Targeted growth rate = 5.2 • Actual growth rate = 5.7 |
| Seventh Plan (1985-90) | • The Plan aimed at accelerating food grain production, increasing employment opportunities & raising productivity with focus on 'food, work & productivity'. • The plan was very successful as the economy recorded 6% growth rate against the targeted 5% with the decade of 80's struggling out of the' Hindu Rate of Growth'. • Targeted growth rate = 5.0 • Actual growth rate = 6.0 |
| Annual Plan (1990-92) | • The Eighth Plan could not take off in 1990 due to the fast changing economic situation at the centre and the years 1990–91 and 1991–92 were treated as Annual Plans. |
| Eighth Plan (1992-97) | • PV Narasimha Rao- LPG reforms. • Based on John Miller Model. • Worsening Balance of Payment position, rising debt burden, widening budget deficits, recession in industry and inflation were the key issues during the launch of the plan. • High growth of agriculture and allied sector, and manufacturing sector, growth in exports and imports, improvement in trade and current account deficit. • High growth rate was achieved even though the share of public sector in total investment had declined considerably to about 34 %. • National Social Assistance programme. • Targeted growth rate = 5.6 • Actual growth rate = 6.8 |
| Ninth Plan (1997-2002) | • Growth with social justice and equity. Mostly "indicative" planning. • Failed- due to global slowdown after Asian financial crisis. • Targeted growth rate = 6.5 • Actual growth rate = 5.4 |
| Tenth Plan (1997-2002) | • It had set 'monitorable targets' for few key indicators (11) of development besides 8 % growth target. • The targets included reduction in gender gaps in literacy and wage rate, reduction in IMR & MMR, improvement in literacy, access to potable drinking water cleaning of major polluted rivers, etc. • Governance was considered as factor of development & agriculture was declared as prime moving force of the economy. • States role in planning was to be increased with greater involvement of Panchayati Raj Institutions. • Balanced development of all states. • Targeted growth rate = 8 • Actual growth rate = 7.6 |
| Eleventh Plan (2002-07) | • Towards Faster & More Inclusive Growth. • India had emerged as one of the fastest growing economy. • The savings and investment rates had increased. • Foreign investment. • Not inclusive-SC's, ST's & minorities faced poverty, malnutrition, mortality, current daily employment etc. • Targeted growth rate = 9 • Actual growth rate = 8 |
| Twelfth Plan (2007-12) | • Theme: "Faster, More inclusive and sustainable growth". • 2nd financial crisis. • Target growth rates: 9% GDP, 4% Agriculture, 10%Mfg. • 10% reduction in poverty, create 50 million new jobs. • Get IMR:26, MMR:1000, Child Sex ratio: 950, TFR: 2.1 • Increase mean school years, forest cover, infrastructure investment, etc. |