Five Year Plan in India

Five Year Plan in India
FIVE YEAR PLAN IN INDIA  The objective of India’s development strategy has been to establish a socialistic pattern of society through economic growth with self-reliance, social justice and alleviation of poverty. India initiated planning for national economic development with the establishment of the Planning Commission by a Resolution of the Government of India in March 1950. Planning Commission was chaired by Prime Minister with a Minister in charge to transact its business and a Deputy Chairman with Cabinet rank and full time Members of MOS rank and Cabinet Ministers as ex-officio Members. Goals of Five-Year Plans The goals of the five-year plans were: growth, modernization, self-reliance and equity. This does not mean that all the plans gave equal importance to all these goals. Due to limited resources, a choice has to be made in each plan about which of the goals is to be given primary importance. Nevertheless, the planners have to ensure that, as far as possible, the policies of th…

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