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Planning Commission was assigned the task of formulating plans for the most
effective and balanced utilisation of resources and determining priorities. Since
then the Planning Commission frames the centralized and integrated national
economic programs at the interval of every ve years, thereby known as the Five-
Year Plans.
The First Five-Year Plan of India was presented by Pandit Jawaharlal Nehru in
1951.
First Plan (1951-56):
It also called Mahalanobis plan named after the well known statistician.
Focus on rapid industrialization
Advocated huge imports through foreign loans.
Shifted basic emphasis from agriculture to industry
During this plan prices increased by 30%, against a decline of 13% during the
First plan
Janta government put forward a plan for 1978- 1983. However, the
government lasted for only 2 years. Congress government returned to power
in 1980 and launched a different plan.
planning
The plan was very successful, the economy recorded 6% growth rate against
the targeted 5%
The eighth plan was postponed by two years because of political uncertainty
at the centre
Worsening Balance of Payment position and in ation during 1990-91 were the
key issues during the launch of the plan
The plan undertook drastic policy measures to combat the bad economic
situation and to undertake an annual average growth of 5.6%
Some of the main economic outcomes during eighth plan period were rapid
economic growth, high growth of agriculture and allied sector, and
manufacturing sector, growth in exports and imports, improvement in trade
and current account de cit
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Posted by:
Sandeep Baliyan
Apr 13 SSC
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