Five Year Plans In India — Chapter Summary
ICSE · Class 11 · Economics
Summary of Five Year Plans In India for ICSE Class 11 Economics. Part of the ICSE Class 11 Economics syllabus.
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Overview
Indian economic planning began as a response to poverty, backwardness, and the damaged economy inherited at independence. Planning meant deliberate use of scarce resources by a central authority to achieve national priorities. In India, the Planning Commission guided the Five Year Plans from 1950 un
Key Concepts
Economic planning means the utilisation
Economic planning means the utilisation of a country's resources into development activities in accordance with national priorities. It involves delib
The Planning Commission was established
The Planning Commission was established in March 1950 with the Prime Minister as Chairman. It formulated India's Five Year Plans and guided centralise
The first systematic attempt at economic
The first systematic attempt at economic planning was made in 1936 by M. Visvesvaraya. The National Planning Committee was set up in 1938 under Jawaha
Planning objectives are long
Planning objectives are long-term objectives to be achieved over about 20 years. They are also called perspective plans and include growth, modernisat
Plan objectives are short
Plan objectives are short-term, sector-specific objectives set for a five-year period. They change from one plan to another depending on immediate nee
Learning Objectives
- Understand the meaning of economic planning in India
- Trace the origin and development of Five Year Plans
- Differentiate between planning objectives and plan objectives
- Learn the common goals of Indian planning: growth, modernisation, self-reliance, and equity
- Study the major objectives of the First to Twelfth Five Year Plans
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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