Thus, it strongly supported agriculture production and also launched the industrialization of the country but less than the Second Plan, which focused on heavy industries. The objective of the programme is to provide certain basic minimum needs and thereby improve the living standards of the people. Even the workers who were more inclined towards the leftist ideology were not much convinced. Some of the segments of the economy achieved self-reliance. Progress was slow, however, partly because of caution on the part of labor and communist leaders. The development plans also emphasized the expansion of the base of higher learning and technical education.
The Final growth target has been set at 8% by the endorsement of the plan at the National Development Council meeting held in New Delhi. Funds have been provided in the budgets of the States for the drinking water supply right from the commencement of the first Five Year Plan. Welfare: Improved facilities for education to girls, family welfare, healthcare, reduction in infant mortality were undertaken by the government as part of the 7th five year plan. A large institutional base and a substantial stock of technical manpower was built up during this period. The Sixth Five Year Plan had already paved the way for economic development by increasing the production in the agricultural and industrial sector, curbing the rate of inflation and maintaining a balance in the transaction of goods, services and money. Backdrop of the 7th Five Year Plan The 7th Five Year Plan started off on a string ground since the foundation for economic development was laid by the 6th Five Year Plan.
Five Year Plans in India Five Year Plans: 1st to 11th Plans Ever since the independence in India, developmental plans for a period of five years are being developed by the Planning Commission with the inputs received from the states all such plans from the very first to the the most recent one Eleventh Plan: 2007-12. It should be noted, however, that in spite of these notable achievements, the performance of the Indian economy has fallen short of its planned targets as well as of its real potential. The incremental capital ratio is 4. Three annual plans were drawn during this intervening period. The development of technology through investment in physical and human capital was a key component of the planning strategy; technological progress was to engineer growth and lead to social transformation. This was carried through the Five-Year Plans, developed, executed, and monitored by the 1951-2014 and the 2015-2017.
During 1966—67 there was again the problem of drought. State electricity boards and state secondary education boards were formed. The Indira Gandhi government 14 major Indian banks and the advanced agriculture. The Ninth Five-Year Plan focused on the relationship between the rapid economic growth and the quality of life for the people of the country. Prime Minister Rajiv Gandhi announced on February 12, 1989 that during the Eighth Plan much greater attention would be paid to generation of employment. The average annual increase in national income was registered to be 1.
Yet much remains to be achieved. The main disadvantage of this plan was that if the targets were revised each year, it became difficult to achieve the targets laid down in the five-year period and it turned out to be a complex plan. This is because the Indian economy is caught in the vicious circle of poverty due to low per capita income and the consequent low rate of saving and capital formation. But again congress came to power in 1980 and disbanded this plan but it had already completed its two year. To achieve the target of an average of 5.
The fifth five year plan was launched by Indira Gandhi government for a time period of 1974—1979. In this case, the importance of small industries and food processing industries was also given due recognition. On one hand it had improved the tourism industry in India and on the other hand it aimed at development in the Information Technology sector. As a result, industrial production increased to a great extent. The Fourth Plan 1967-73 aimed at the elimination of import of food-grains under P. Figures in parentheses refer to total stock, economically active plus unemployed.
The First Plan was for the present year which comprised the annual budget and the Second was a plan for a fixed number of years, which may be 3, 4 or 5 years. Economic Growth: Of all the objectives, economic growth has received the strongest priority in all the plans. Thus, under pressure, the country took the risk of reforming the socialist economy. The target growth was 7. In other words, unlike other objectives, the goal of self-reliance still remains partly unfulfilled. Self Reliance: During the last four decades, considerable progress seems to have been made towards the achievement of self reliance. Seventh Five Year Plan India strove to bring about a self-sustained economy in the country with valuable contributions from voluntary agencies and the general populace.
There is growing evidence that the productivity of many sectors in India is low compared not only with the major developed countries but also with many developing ones. Background of Sixth Five Year Plan India: At the onset of the Sixth Five Year Plan India, Rajiv Gandhi, the then prime minister prioritized speedy industrial development, with special emphasis on the information technology sector. Thus, a rise in national income has been key indicator for economic development of India. The basic thrust of the strategy was the acceleration of the process of domestic capital and technological accumulation. Net foreign aid contributed as little as 4 per cent of aggregate investment under the recent Five-Year Plans. Price control measures were no more useful. The Third Plan 1961- 66 emphasised an expansion of basic industries but shifted to defence.
This was in addition to Rs. The Ninth Five-Year Plan looks through the past weaknesses in order to frame the new measures for the overall socio-economic development of the country. The long-term growth rate is now well over 4 per cent annually, compared to only 1 per cent in the decade before independence. As this machinery became available it would be possible, gradually, to manufacture everything else. The government intends to reduce poverty by 10% during the 12th Five-Year Plan. One of the major hindrances in the way of further development in this period was the boom in the Indian population.