Five year plan

and monitored by Planning commission of India to achieve the economic goals setup by the Indian government. The 1st five year plan was executed on 1st April 1951 under the leadership of our 1st Prime Minister Pandit Jawaharlal Nehru. Then after every five years our government follows a five year plan in order to boost our economy by bringing changes in agricultural, social, and economical sectors. Till now government has executed eleven 5 year plans. The current five year plan is the 11th five year plan (2007-2012). Each 5 year plans consists of certain goals to achieve in which sometimes they are successful and sometimes not. FIRST FIVE YEAR PLAN(1951-56): This 5 year plan was aimed at bringing steady and balanced growth of economy. Agriculture was the key factor in the 5 year plan. It was successful because it was aimed at achieving GDP 2.1% but it achieved 3.6%. The national income and the per capita income was increased by 18% and 11% respectively. The most important feature was active role of state in all economic sectors.

Five year plan are developed, executed,

SECOND FIVE YEAR PLAN(1956-61): This Five year plan was based on P.C.Mahal nabis model This 5 year plan mainly focused on heavy industries. It was aimed to increase the national income by 25%. The plan attempted to determine the optimal allocation of investment between productive sector in order to maximize long run economic growth. It aimed at achieving GDP of 2.5% but it achieved 4.1%.

THIRD FIVE YEAR PLAN(1961-66): It was aimed to make our economy self sufficient. This plan focused on both agriculture and industry.

The target was 5.6% but it achieved only 2.5%. This 5 year plan was failure because of Indo-Pak and Indo-China war and also accompanied by drought all over the country.

THREE ANNUAL PLANS(1966-67,1967-68,1968-69): Before the 4th five year plan there was a gap of three years in which 3 annual plans released (1966-67,1967-68,1968-69). This gap was because of Indo-Pak wars and depletion of resources due to drought.

FOURTH FIVE YEAR PLAN(1969-74): This plan was aimed at achieving 5.5% of GDP but was able to achieve only 3.3%. It was a failure because of unfavourable monsoons and arrival of Bangladeshi refugees.

FIFTH FIVE YEAR PLAN(1974-79): Eradication of poverty and making our economy self sufficient were the main aim of this plan. This was the 1st 5 year plan in which government showed their interest in poverty and unemployment. It was aimed to achieve 4.4% GDP but it achieved 5%. It was successful but it was not able to eradicate unemployment and poverty completely.

SIXTH FIVE YEAR PLAN(1980-85): It was mainly aimed at eradication of poverty and increasing the employment opportunity. In this 5 year plan certain steps were taken to improve the rural part of India. The actual GDP aimed was 5.2% and it achieved 5.4%.

SEVENTH FIVE YEAR PLAN(1985-90): This 5 year plan strove to bring about our self sustained economy in the country with valuable contribution from voluntary agencies and general population.

The key areas of this plans were social justice, removal of operation of the weak, using modern technology, agricultural development, antipoverty programmes. The target of GDP was 5.4% and it achieved 5.8%

EIGHTH FIVE YEAR PLAN(1992-97): There was a gap of 2 years before the eight plan because of economic instability in India(1990-92). Modernization of industry was a major highlight of this plan. The major objectives were controlling population growth, poverty reduction, employment generation, strengthening the infrastructure, involvement of panchayati raj, nagarpalikas, NGOs, and decentralization and peoples participation. The target GDP was 6% and it achieved 6.7%. It was successful because of liberalization, globalization and privatization of economy.

NINTH FIVE YEAR PLAN(1997-02): It was aimed at speedy industrialization, human development, full scale employment, poverty reduction, and self-reliance on domestic resources. The main objectives were o o o To prioritise agricultural sector and emphasis on the rural development To generate adequate employment opportunity. To insure food and nutritional security etc.

Target GDP was 6.5% but it achieved only 5.35%. The failure of this plan was because of Indo-Pak Kargil war.

TENTH FIVE YEAR PLAN(2002-07): The main objectives were o o o Reduction of poverty by 5%. Providing high quality employment. Reduction in gender gaps in literacy and wage rates.

Target GDP was initially 8% but it then reduced to 7% and it finally attained 7.8%.

ELEVENTH FIVE YEAR PLAN(2007-12): This is the current 5 year plan and it will end in the year 2012. The main objectives are o o o o o o Create 70 million new work opportunities. Reduce educated unemployment to below 5%. Increase literacy rate of age 7 years or above to 85%. Lower gender gap in literacy to 10% point. Raise the sex ratio. Increase tree and forest cover by 5% etc.

Target GDP is 9% and in the subsequent 5th year 10%

TWELVETH FIVE YEAR PLAN(2012-17): The main objectives in the 12th five year plans are Faster, sustainable and more inclusive growth. Annual growth of 4%. Increase in mining industries and technologies. Providing clean drinking water to the whole country.