Economic Planning in India
... industries. ƒÜ Increase in productive capacity. ƒÜ Increase in technical efficiency. ƒÜ Acceleration in the flow of new investment. ACHIEVEMENTS ƒÜ Actual growth was 4.3% compared to the target of 4.5% ƒÜ National Income increased by 20.5% whereas the target was 25% ƒÜ Per capita income went up by 9% ƒÜ Food production increased by 15% ƒÜ Significant advance in the Industrial field. Third Five-Year Plan (1961-1966) OBJECTIVES ƒÜ To secure increase in national income of over 5% per annum. ƒÜ To achieve self-sufficiency in food grains. ƒÜ To expand basic industries. ƒÜ To ensure substantial expansion in employment opportunities. ƒÜ To establish a self sustaining economy. PRIORITIES ƒÜ Increase production in Agriculture and Industrial sectors. ƒÜ Rapidly expand the economy to achieve a self-reliant and self-generating state. ACHIEVEMENTS ƒÜ Actual growth was 2.8% compared to the target of 5.6% ƒÜ National Income rose by 20% in the first 4 years but registered a decline of 5.6% in the last year. ƒÜ Per capita income remained almost same. ƒÜ Food production decreased by 12% ƒÜ Industrial growth was only 5% per annum compared to a target of 14% per annum. Annual Plans (1966-67 to 1968-69) ƒÜ Instrumental in uplifting the economy. ƒÜ Helped in increasing agricultural production. ƒÜ Removed the strains and stresses in the economy. ƒÜ Paved the way for the Fourth Five Year Plan. Fourth Five-Year Plan (1969-1974) OBJECTIVES ƒÜ Economic growth with stability. ƒÜ Reducing fluctuations in agricultural production. ƒÜ Generating employment opportunities. ƒÜ Correction of regional imbalances. PRIORITIES ƒÜ Growth with stability. ƒÜ Agriculture to lead the growth. ACHIEVEMENTS ƒÜ Actual growth was 3.3% compared to the target of 5.7% ƒÜ Agricultural production increased by 30% ƒÜ Industrial production increased from 4.5% to 7% Fifth Five-Year Plan (1974-1979) OBJECTIVES ƒÜ Removal of poverty. ƒÜ Attainment of economic self-reliance. ƒÜ Generating employment opportunities. ƒÜ Investment in key industries producing goods for mass consumption. PRIORITIES ƒÜ ¡¥Garibi Hatao¡¦ (removal of poverty). ƒÜ Attainment of self reliance ACHIEVEMENTS ƒÜ Twin objectives of ¡¥Garibi Hatao¡¦ and attainment of self-reliance were achieved to a great extent. ƒÜ Actual growth rate was 4.8% compared to the target of 4.4% ƒÜ Average rate of growth of real national income was 3.9% per annum. ƒÜ Agricultural production was high. ƒÜ Industrial performance was satisfactory. Sixth Five-Year Plan (1980-1985) OBJECTIVES ƒÜ To eliminate unemployment and under-employment. ƒÜ To achieve higher rate of growth of economy than in the past. ƒÜ To provide basic needs of life. ƒÜ To achieve self-reliance. PRIORITIES ƒÜ Minimum needs programme. ƒÜ Agriculture, cottage and small-scale industries. ACHIEVEMENTS ƒÜ Actual growth rate was 5.7% compared to the target of 5.2% ƒÜ Most of the targets fixed were met. ƒÜ Food production increased. ƒÜ Some segments of the economy achieved self reliance. Seventh Five-Year Plan (1985-1990) OBJECTIVES ƒÜ Plan was part of a long term plan for the next 15 years. ƒÜ Decentralisation of planning. ƒÜ To achieve self-sufficiency in food at higher levels of production. ƒÜ To integrate science and technology into development planning. ƒÜ To achieve a higher degree of self-reliance through export promotion and import substitution. ACHIEVEMENTS ƒÜ Indian economy re...