Five Year Plans in India – Vol. 1

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17 Nov, 2014

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5-Year-Plans-in-India

What is the main tool for achieving development as envisaged by the government? – Five Year Plans

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How many Five Year Plans have been implemented in India till date? – 12

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Which Five Year Plan is currently being undertaken and implemented? – 12th Five Year Plan (The plan period of the 12th Five Year Plan is from 1 April 2012 to 31st March 2017)

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Economic planning was formally undertaken in India from which date? – 1 April 1951 (The date from which the First Five Year Plan was started)

FIRST 5 YEAR PLAN

What was the planning period for the First Five Year Plan? – 1 April 1951 to 31st March 1956

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When was the draft of the First Five Year Plan presented in the Indian Parliament? – 8 December 1951 (It was presented in the Parliament by the then Prime Minister Jawaharlal Nehru)

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What was the focus area of the 1st Five Year Plan? – Agriculture (Out of the total budget allocation for this plan, 27.2% was allocated for irrigation and power while agriculture and community development was allocated 17.4%

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The first five year plan was based on which famous development model of that time? – Harrod-Domar Model

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What was the Harrod-Domar Model? – This development model was independently propagated by two economists named Roy Harrod and Evsey Domar. Capital productivity and savings rate were the two parameters that were used to define the development of an economy under this model)

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Which are the two huge dams that were built under the 1st Five Year Plan? – Hirakud and Bhakhra Dams (Orissa’s Hirakud Dam was independent India’s first multi-purpose dam and started operations from 1953. Bhakhra Dam’s foundation was laid in 1955 and its first stage was completed in 1963. It was named as the ‘Temple of the independent India’ by Prime Minister Jawaharlal Nehru)

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What was the targetted growth rate for the 1st Five Year Plan? – 2.1% per annum (However, the actual growth rate achieved during the Plan was 3.6% per annum)

 

SECOND 5 YEAR PLAN

What was the plan period for the 2nd Five Year Plan? – 1 April 1956 to 31 March 1961

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The model of the 2nd Five Year Plan was developed by which famous economist/statistician? – Prof. P.C. Mahalanobis (Hence this Plan is also known to be based on the Mahalanobis Model)

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What was the method adopted to achieve development of the economy under this Plan? – An attempt was made to determine the optimal allocation of investment between productive sectors in order to maximise long-run economic growth of the country

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The 2nd Five Year Plan laid emphasis on development of which sector? – Heavy industry (especially belonging to the public sector)

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Which public sector undertakings were the prominent ones to have been established under the 2nd Five Year Plan? – The steel plants at Bhilai, Durgapur, Raurkela and Bokaro

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What was the targetted growth rate for the 2nd Five Year Plan? – 4.5% per annum (However, the actual growth rate achieved during the Plan was 4.27% per annum)

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The Swedish newspaper was recently asked it to delete the reference made by President Pranab Mukherjee to the Bofors scam in an interview to it, as a claim protested by the Indian Government on 27 May 2015. India has expressed disappointment over the disrespect shown to the President, the newspaper has defended its right to publish what was said during the interview.

Know, who is Vijay Kelkar and what is PPP !

Vijay Kelkar is a renowned economist and a former Finance Secretary. He was appointed head of newly constituted committee to give recommendations to recast the model of Public-Private-Partnership (PPP) model in India. India is one of the largest PPP market with over 900 projects. The Kelkar committee will review the PPP policy, suggest a better risk-sharing mechanism between private developers and the government after analysing such projects.

Know, who is Yaduveer Krishnadatta Chamaraja Wadiyar !

Yaduveer Krishnadatta Chamaraja Wadiyar was crowned as the new Maharaja of of Mysuru (Mysore) royal family. He is the 23-year old grandson of Princess Gayathri Devi, who was the eldest daughter of the last Maharaja of Mysore, Sri Jayachamarajendra Wadiyar. The coronation was held at Mysuru’s famous Amba Vilas Palace, which was decked up for the occasion.

Know about Sepp Blatter!

Swpp Blatter, was re-elected as FIFA president for a fifth term at the 65th Annual Congress of FIFA held at Zurich for four year term.

Prince Ali bin al-Hussein of Jordan stood against Blatter in this election. It is worth mentioning that FIFA is going through a major controversy regarding corruption in the organisation with two FIFA vice presidents and a recently elected FIFA executive committee member still in custody.

 


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  1. Krishna Mohan Singh says:

    thanks for the valuable information

  2. ajasya says:

    plz complete all five year plans

  3. dikchha says:

    pls let us know abt all 5 year plans….thanx 4 sharing such important informations in dis valuable site….thanxxxx

  4. deblayek says:

    plz,write about all five year plan ………..

  5. virsain says:

    dear sir ur site is very useful to us. sir please give general knowledge in hindi

  6. yadav says:

    thanks sir ….

  7. nehatomer says:

    thanks for this great knowledge

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