5 Year Plans of India

 

5 Year Plans of India

History

1928- Joseph Stalin Introduced 1st five year plan in USSR. 

1934- Sir M. Visvesvaraya published a book titled “Planned Economy in India”. He proposed the idea to double the national income in next 10 years. 

1938- National Planning Committee was established by Subhash Chandra Bose under the Chairmanship of Jawahar Lal Nehru

1944- Bombay Plan(Sir Purshottamdas Thakurdas, Mr. J.R.D. Tata + 6 others), Various Industrialists came together and drafted a joint proposal for setting up a planned economy in India. 

1944- Gandhian Plan(Sriman Nayaran, principal of Wardha Commercial College), focused on economic decentralization with primacy to rural development by developing the cottage industries.

1944- Planning and Development Department(Incharge- K. C. Neogy), under the executive Council of Viceroy was established. Later in 1946, this department was abolished. 

1945- People’s Plan by M. N. Roy for 10 year time period with chief emphasis on agricultural and consumer goods industries through collective ownership. 

1948- The Industrial Policy Statement published after independence recommended setting up of a Planning Commission based on mixed economic model.

1950- Sarvodaya Plan(Jai Prakash Narayan), inspired by Gandhian Plan and Sarvodaya Idea of Vinoba Bhave. This plan emphasized on agriculture and small & cottage industries. The plan also talks about freedom from foreign technology and stressed upon land reforms and decentralized participatory planning.

15 March 1950- Planning Commission was setup under the chairmanship of PM

9 July 1951- 1st Five Year Plan

2014- Planning Commission was abolished

2015- Niti Aayog was established as think tank

The planning commission was executive body(extra constitutional body) and it worked on Top-Down Approach. It had overlapping role with finance commission(Constitutional body). 

12 Five Year Plans of India