Indian Economy is a mixed economy, that is in a mixed economy, the public sector exists alongside the private sector to achieve a socialist pattern.
here we discuss Planning in India and the emergence of NITI AYOG.
Planning in India
The NITI Aayog
National Institution for Transforming India (NITI) Aayog was set up on January 1, 2015 by replacing the Planning Commission of India.
Some Facts about NITI Aayog
- Chairman of NITI Aayog : Prime Minister of India Shri.Narendra Modi
- Vice Chairman: Dr Rajiv Kumar
- First CEO of NITI Aayog : Sindhu Shri Ghuller
- CEO of NITI Aayog : Shri Amitabh Kant
- First conference of NITI Aayog was held on 08 FEBRUARY 2015
- First conference of NITI Aayog was Known as – Team india
Five Year Plan
First Five Year Plan ( 1951-1956)
- It is known as Herrod _ Domar Model
- Aim of this plan was to start process of balanced development of economy
- Agriculture was the top priority
Second Five Year Plan (1956 – 1961)
- This plan is based on the P.C Mahalanobis Plan
- To establish socialist order,derived from Soviet model
- The second five year plan aimed at rapid industrialization
- In this plan, Industries and minerals were on top priority
- Second priority was given to Transport and Communication
- Various important large industries like Steel plant at Bhilai ,Durgapur and Rourkela were established during this plan.
Third Five Year Plan (1961-1966)
- Main objective of the plan was to make the economy independent. This plan is also called ” Gadgil Yojana “
- Main priority was given to both agriculture and Industry
- This plan didn’t achieve much because of Indo-China war
Fourth Five Year Plan (1969 -1974)
- This plan was under the leadership of Smt.Indira Gandhi
- During this plan, 14 major Indian banks were nationalized and the Green Revolution was started.
- Main objectives of the plan were ” Growth with stability “and “Progressive Achievement of self-reliance”
Fifth Five Year Plan (1974-1979)
- This plan focused on Garibi Hatao, employment, justice, agricultural production and defense.
- Main objective of the plan were poverty eradication and attainment of self-reliance
- Top priority was given to agriculture ,industry and mines.
- This plan was terminated in 1978 by Morarji Desai Government
Rolling Plan (1978-1980)
- The new pattern started by Janata Government
- After the termination of the fifth Five Year Plan, the Rolling Plan came into effect from 1978 to 1980.
Sixth Five Year Plan ( 1980-1985)
- Basic objective of this five year plan was removal of Poverty
- other than this,economic liberalization and achieving technological self-reliance was also part of this plan
- In this plan ,important programs like Integrated Rural Development Programme (IRDP) ,Minimum Needs Programme (MNP) were started.
Seventh Five Year Plan (1985 – 1990)
- Its duration was from 1985 to 1990, under the leadership of Rajiv Gandhi.
- The objectives of this plan include the establishment of a self-sufficient economy, opportunities for productive employment, and up-gradation of technology.
- Jawahar Rozgar Yojana started during this period
Eighth Five-Year Plan
- It is during the tenure of P.V. Narasimha Rao.
- The utmost priority was given to “Development of Human Resources “. That is Employment,Education and Public Health.
- Pradhan Mantri Rozgar Yojana (PMRY) was started in the year 1993
Ninth Five Year Plan ( 1997-2002)
- Under the leadership of Shri.Atal Bihari Vajpayee
- The main focus of this plan were “Growth with Social Justice and Equality”.
- This plan was launched in the 50th year of India’s Independence
Tenth Five Year Plan (2002-2007)
- This Plan was under the leadership of Atal Bihari Vajpayee and Manmohan Singh.
- Main objective of the plan was to double the per capita income in next 10 years
- It also aimed to reduce the poverty ratio to 15% by 2012.
Eleventh Five Year Plan (2007-2012)
- It was prepared by Prof.C Rangarajan
- During the tenure of Dr.Manmohan Singh
- Its main theme was “rapid and more inclusive growth”.