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The Indian economy was suffering poorly after the British had left the Indian economy distorted.
In the efforts of developing the Indian economy the leaders of India started to work on the
concept of Planning ever since after independence. A functional body, The Planning Commission
of India was setup to develop, execute and monitor the objectives, policies and strategies for the
expansion and growth of economy as well as sustainable improvement of the social factors such
as health, education, employment to raise the living standard and eradicate the social problems
and disparities from the society.
The Planning Commission of India looks after the setting of objectives to be achieved in the
period of next 5 years, planning of policies and strategies to fulfil the objectives and monitoring
for the proper implementation and to achieve desired output. The plans are made for the period
of 5 years so that there is enough time to implement the strategies and to take appropriate steps to
achieve the desired objectives. The Prime minister of India is the ex-officio chairman of the
planning commission and the deputy chairman is nominated someone from the rank of cabinet
minister.
The first 5-year plan was started in 1951 under the guidance and leadership of our first Prime
Minister, Pt. Jawaharlal Nehru and currently the 12 th 5-year plan is underway. The Objectives,
strategies and policies of each 5-year plan made since the first plan was in accordance with the
needs & wants of the economy and the betterment of the people and the society as well as the
prevailing situations & conditions in the society.
In this assignment we will discuss about the outlays laid by the government and the objectives
set to achieve for the betterment and upliftment of the economy and the society in the 10 th, 11th
and 12th five year plans.
The Planning Commission of India was created with the following objectives.
1) Evaluate and assess the resources available in the country and allocate them in a manner
2)
accordingly allocate the resources for the due completion of each stage.
3) Point out the sectors that are tending to retard economic development, and determine the
conditions under present political and social situation for the successful completion of the
plan.
4) Formulate necessary checks on the progress of each stage from time to time and
recommend updates and changes necessary.
The major bodies that are responsible for the formulation of policies, drafting plans and
monitoring the implementation and progress of the five year plans are
1) Planning Commission of India.
2) National Planning Council.
3) National Development Council and State Planning Commissions.
Objectives
DECREASE
1)
2)
3)
4)
5)
DECREASE
1)
2)
3)
4)
5)
POLICIES
Since we can see a lot of efforts are being taken by our new government and a number of policies
have been made to improve the economy and social conditions in the society, and the current
GDP growth rate being 5.7%, it looks possible that the objectives of the 12 th plan will be
achieved, if not fully then partially.
CONCLUSION
The five year plan has been a good concept. It has helped the government to focus on various
issues that needed government intervention. It has also helped in eradicating a number of social
evils and develop Indian economy after independence. Though it might have not given 100%
results, it atleast helped to bring the issues in the government concern.