Tuesday, April 25, 2023

Economics plans of India?

India has implemented several economic plans since independence to promote economic growth, reduce poverty, and improve the standard of living of its citizens. Some of the most significant economic plans of India are:


1. First Five-Year Plan (1951-1956): This was the first economic plan launched by India after independence. Its main objective was to increase agricultural production and achieve self-sufficiency in food production.


2. Second Five-Year Plan (1956-1961): The second plan focused on industrialization and the development of heavy industries. The plan also aimed to create employment opportunities and improve infrastructure.


3. Third Five-Year Plan (1961-1966): The third plan aimed to accelerate economic growth and promote social welfare. The plan focused on the development of agriculture, irrigation, and rural electrification.


4. Fourth Five-Year Plan (1969-1974): The fourth plan aimed to achieve self-sufficiency in food production and reduce poverty. The plan also focused on the development of small-scale industries and the expansion of healthcare and education.


5. Fifth Five-Year Plan (1974-1979): The fifth plan focused on poverty alleviation and the development of rural areas. The plan also aimed to promote social justice and reduce regional imbalances.


6. Sixth Five-Year Plan (1980-1985): The sixth plan aimed to accelerate economic growth and promote employment opportunities. The plan also focused on the development of infrastructure, particularly in the areas of energy and transportation.


7. Seventh Five-Year Plan (1985-1990): The seventh plan aimed to achieve self-sufficiency in food production and increase agricultural productivity. The plan also focused on the development of human resources and the promotion of technology.


8. Eighth Five-Year Plan (1992-1997): The eighth plan aimed to liberalize the Indian economy and promote private sector investment. The plan also focused on the development of infrastructure and the expansion of social welfare programs.


9. Ninth Five-Year Plan (1997-2002): The ninth plan aimed to accelerate economic growth and promote social development. The plan also focused on poverty alleviation and the development of human resources.


10. Tenth Five-Year Plan (2002-2007): The tenth plan aimed to achieve a growth rate of 8% per annum and promote social development. The plan also focused on infrastructure development, particularly in the areas of power, roads, and ports.


11. Eleventh Five-Year Plan (2007-2012): The eleventh plan aimed to achieve inclusive growth and promote social development. The plan focused on improving the quality of education and healthcare and reducing regional imbalances.


12. Twelfth Five-Year Plan (2012-2017): The twelfth plan aimed to achieve faster, sustainable, and more inclusive growth. The plan focused on infrastructure development, skill development, and job creation.


Note that India has now shifted from the Five-Year Plan system to a new approach called the National Development Agenda, which focuses on achieving sustainable development goals. The current national development agenda is the 15-year-long Vision Document for India, called "New India 2022".

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