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(http://www.economywatch.com/five-year-plans/)
Some important events that took place during the tenure of the 1st five year plan:
The following Irrigation projects were started during that period: Mettur Dam Hirakud Dam Bhakra Dam. The government had taken steps to rehabilitate the landless workers, whose main occupation was agriculture. These workers were also granted fund for experimenting and undergoing training in agricultural know how in various cooperative institutions. Soil conservation, was also given considerable importance. The Indian government also made considerable effort in improving posts and telegraphs, railway services, road tracks, civil aviation. Sufficient fund was also allocated for the industrial sector. In addition measures were taken for the growth of the small scale industries.
Mahalanobis Model:
The 2nd year five year plan, functioned on the basis of Mahalanobis model. The Mahalanobis model was propounded by the famous Prasanta Chandra Mahalanobis in the year 1953. His model addresses different issues pertaining to economic development.
From the above table it is clear that the 7th Five Year Plan targeted a GDP growth rate of 5.8% while the 8th Five Year Plan projected a 5.6% growth rate. The achievements show that the GDP shot up to a whopping 6.3% during the 8th Five Year Plan and to 4.3% during the 7th Five Year Plan. Hence the 8th five year plan had overshooted its target. The target set for the current account deficit during the 7th Five Year Plan was fixed at 2.4% while it was set at 1.6% during 8th Five Year Plan . Results show that the 8th Five Year Plan had been more successful in this regard as the deficit was reduced by 0.7% in the 8th Five Year Plan and by only 0.1% in the 7th Five Year Plan. With regard to domestic savings as a percentage of GDP the 8th Five Year Plan reached 24.4% while in the 7th Year Plan the figure was 20.2%. As far as the contribution of the export earnings is concerned the 8th Year Plan contributed 10.1% to the GDP while the 7th Year Plan contributed 9.9% to the GDP. The import volume as a percentage of GDP was also more during the 8th Five Year Plan (10.9% ) compared to the 7th Five Year Plan (10.3%). In a nutshell the 8th five year Plan was more successful in meeting its objectives as compared to the previous five year plan.
http://planningcommission.gov.in/plans/planrel/11thf.htm
The first five year plan was presented by Jawaharlal Nehru in 1951. The First Five Year Plan was initiated at the end of the turmoil of partition of the country. It gave importance to agriculture, irrigation and power projects to decrease the countries reliance on food grain imports, resolve the food crisis and ease the raw material problem especially in jute and cotton. Nearly 45% of the resources were designated for agriculture, while industry got a modest 4.9%.The focus was to maximize the output from agriculture, which would then provide the impetus for industrial growth. Though the first plan was formulated hurriedly, it succeeded in fulfilling the targets. Agriculture production increased dramatically, national income went up by 18%, per capita income by 11% and per capita consumption by 9%
The second five year plan was initiated in a climate of economic prosperity, industry gained in prominence. Agriculture programmes were formulated to meet the raw material needs of industry, besides covering the food needs of the increasing population. The Industrial Policy of 1956 was socialistic in nature. The plan aimed at 25% increase in national income. In comparison to First Five Year plan, the Second Five Year Plan was a moderate success. Unfavorable monsoon in 1957-58 and 1959-60 impacted agricultural production and also the Suez crisis blocked International Trading increasing commodity prices.
While formulating the third plan, it was realized that agriculture production was the destabilizing factor in economic growth. Hence agriculture was given due importance. Also allotment for power sector was increased to 14.6% of the total disbursement. Emphasis was on becoming self reliant in agriculture and industry. The objective of import substitution was seen as sacrosanct. In order to prevent monopolies and to promote economic developments in backward areas, unfeasible manufacturing units were augmented with subsidies. The plan aimed to increase national income by 30% and agriculture production by 30%. The wars with China in 1962 and Pakistan 1965 and bad monsoon in almost all the years, meant the actual performance was way of the target.
At the time of initiating the fourth plan it was realized that GDP growth and rapid growth of capital accumulation alone would not help improve standard of living or to become economically selfreliant. Importance was given to providing benefits to the marginalized section of the society through employment and education. Disbursement to agricultural sector was increased to 23.3% .Family planning programme was given a big stimulus. The achievements of the fourth plan were below targets. Agriculture growth was just at 2.8% and green revolution did not perform as expected. Industry too grew at 3.9%.
As a result of inflationary pressure faced during the fourth plan, the fifth plan focused on checking inflation. Several new economic and non-economic variables such as nutritional requirements, health, family planning etc were incorporated in the planning process. Investment mix was also formulated based on demand estimated for final domestic consumption. Industry got the highest allocation of 24.3% and the plan forecasted a growth rate of 5.5% in national income. The fifth plan was discontinued by the new Janata government in the fourth year itself.
The Janata government moved away from GNP approach to development, instead sought to achieve higher production targets with an aim to provide employment opportunities to the marginalized section of the society. But the plan lacked the political will. The Congress government on taking office in 1980 formulated a new plan with a strategy to lay equal focus on infrastructure and agriculture. The plan achieved a growth of 6% pa.
7th Plan (1985-89) The first three years of the seventh plan saw severe drought conditions, despite which the food grain production rose by 3.2%.Special programmes like Jawahar Rozgar Yojana were introduced. Sectors like welfare, education, health, family planning, employment etc got a larger disbursement. 8th Plan (1992-97)
The eighth plan was initiated just after a severe balance of payment crisis, which was intensified by the Gulf war in 1990.several structural modification policies were brought in to put the country in a path of high growth rate. They were devaluation of rupees, dismantling of license prerequisite and decrease trade barriers. The plan targeted an annual growth rate of 5.6% in GDP and at the same time keeping inflation under control.
9th Plan (1997-2002) It was observed in the eighth plan that, even though the economy performed well, the gains did not percolate to the weaker sections of the society. The ninth plans therefore laid greater impetus on increasing agricultural and rural incomes and alleviate the conditions of the marginal farmer and landless laborers.
The aim of the tenth plan was to make the Indian economy the fastest growing economy in the world, with a growth target of 10%.It wanted to bring in investor friendly market reforms and create a friendly environment for growth. It sought active participation by the private sector and increased FDI's in the financial sector. Emphasis was laid on corporate transparency and improving the infrastructure. It sought to reduce poverty ratio by 5 percentage points by 2007and increase in literacy rates to 75 per cent by the end of the plan. Increase in forest and tree cover to 25 per cent by 2007 and all villages to have sustained access to potable drinking water.
The eleventh plan has the objective to increase GDP growth to 10%. Increase agricultural GDP growth to 4% per year to ensure a wider spread of benefits. Create 70 million new work opportunities. Augment minimum standards of education in primary school. Reduce infant mortality rate to 28 and malnutrition among children of age group 0-3 to half of its present level. Ensure electricity connection to all villages and increase forest and tree cover by five percentage points.
Dahar (or Dahir): was the Brahmana king of Sind who was defeated by the Arab invasion in A.D. 712 by Mohammadbin-Kasim, nephew and son-inlaw of al-Hajjaj, governor of Irak. The Indian ruler (Dahar) offered a brave resistance in the battle near Raor but was defeated and killed. Darius: was the Iranian ruler who penetrated into north-west India in 516 B.C. and annexed Punjab, west of Indus, and Sindh. Devapala: (A.D. 830-850) was successor to Dharmapala, the famous Pala ruler. He established the third important Pala university of Somapura. He shifted his capital to Monghyr from where he maintained diplomatic relations with the Sailendra kings of Sumatra. Dhammapada: was the first major work to say that salvation by means of devotion is open to humans regardless of birth, gender or station in life. Dharmachakra: In the Gandhara art, it is the preaching mudra associated with the Buddhas First Sermon at Sarnath. First Congress Split: took place in 1907 at Surat. First metal used by man: Copper. First Muslim invaders of India: Arabs were the first Muslim invaders of India. First Sultan of Delhi: was Qutb-ud-din who succeeded Muhammad Ghuri as sovereign of the new Indian conquests, and from 1206 may be reckoned as the first Sultan of Delhi. First to issue gold coins in India: Mauryas. First to set up department of agriculture: Muhammad-bin-Tughlaq was the first to set up a department of agriculture in India. First to start sea trade with India: Portugal. Gautamiputra Satakarni: was the great king of Satavahana dynasty. Gayatri mantra: is contained in Rig Veda. Gopuram: It has been the main feature of the South Indian temple architecture. Hasan Gangoo: entitled Zafar Khan was founder of the Bahmani kingdom in Deccan. Ibadat Khana: is a building at Fatehpur Sikri where Akbar held discussions on religious matters. Ibn-Batuta: was a great scholar and traveller from South Africa who came to India in A.D. 1333 during the reign of Mohammad Tughlak and wrote about him. Iqta: It was the land-grant system adopted by Ala-ud-din Khilji to grant his officers as reward for services rendered. Qutabuddin Aibak was assigned the first iqta in India by Mohd of Ghor. Jimutavahana: was a famous jurist of medieval India (fifteenth century). His work Dayabhaga is a commentary on the srutis, specially on Manu. Kalachuri era: counted from A.D. 248, it was mostly current in Central India. Their capital was Tripuri near Jabalpur. Kalachuris were the feudatories of the Pratiharas but soon acquired independence. Karshapana: was the most commonly used coin in the Chola kingdom. Khiraj: was the land tax imposed by Mohd-bin-Qasim after the Arabs occupation of Sind. Magazines started by National leaders: Young India (M.K. Gandhi); Kesari (B.G. Tilak); New India (Annie Besant); Bengali (S.N. Bannerji). Maski Rock edict: This minor Rock-edict is the only edict in which Ashoka refers to himself as the king of Magadha. Moplah Rebellion: broke out in Malabar (Kerala) in August 1921. Nastaliq: was a Persian script used in medieval India. Nauroj festival in India: Balban introduced the famous Persian festival of Nauroj in India. Nicolo Conti: was the Italian foreign traveller who visited Vijayanagar about A.D. 1420 during the reign of Deva Raya-II. Palas: who controlled most of Bengal and Bihar, was the third power involved in the three-sided conflict between Rashtrakutas and Pratiharas over the control of Kanauj. Pala dynasty was established by Gopala in the eighth century A.D. He attained renown from the fact that he was not hereditary king but was elected. Paragana: During the rule of the so-called Slave dynasty in India, the empire was divided into provincial units called Paraganas placed under the charge of a military officer.
Prakrit: This language received royal patronage during the reign of Satavahanas. Rajsekhar: was the Sanskrit poet who lived in the court of Mahendrapala-I. Ratika: or rati is a weight between 1.5 to 3 Gunjas; between 5 to 8 grains of rice. It was the basic weight (measure) in ancient India. Ratnakara: denoted the Arabiasn Sea in ancient Indian historical geography. Rishabha: is supposed to be the mythical founder of Jainism. Sardeshmukhi: was an additional levy of 10%, which Shivaji demanded on the basis of his claim as the hereditary Sardeshmukh (chief headman) of Maharashtra. Shahrukh: It was silver coin of the Mughals. Sharada script: The Kashmiri language was originally written in Sharada script. Subuktigin: was the first Turkish invader of India. Tanka: was a silver coin of the Sultanate period of India. Tehqiq-i-Hind: Alberunis work on India. It contains observations on Indian civilization which are remarkably incisive and acute. Turushkadanda: was a tax collected by the Gahadavalas during the early medieval India. Vagbhata: is regarded as unrivalled in his knowledge of the basic principles of Ayurveda. Vatapi (or Badami): now in the Bijapur district of Karnataka, where Pulakesin I, founder of the Chalukya dynasty in the middle of the sixth century, established himself as lord of Vatapi or Badami (capital of Chalukyas). It is well-known for Chalukyan sculpture found in the cave temples here. Vidushaka: the constant companion and confidant of the hero in Sanskrit dramas, was nearly always a Brahmin. Vikramasila University: was a great Tantrik University founded by the Pala king Dharmapala in A.D. 810. It was a hotbed of moral corruption, sorcery and idolatry. In A.D. 1198, the soldiers if Ikhtiar Khilji raised the structure to the ground and killed every monk in the University. Wood's Despatch of 1854: It related to educational reforms. Lord Dalhousie took measures to carry out the scheme embodied in the famous despatch of Sir Charles Wood (July 1854) which embraced vernacular schools throughout the districts, and above all the glorious measures of grants-in-aid to all schools, without reference to caste or creed. Yakshagana: was the south Indian dance tradition that appeared for the first time in the Vijayanagar period. Zabti System: was introduced by Akbar for land revenue administration. In Zabti system, land was measured and assessment of land revenue was based upon it.