Five Year Plans in India
For the smooth functioning of any economy,
planning plays an important role. The Planning Commission has been entrusted
with the responsibility of the creation, development and execution of India's
five year plans. India's five year plans are also supervised by the Planning
commission.
Currently, the 12th Five Year Plan, is underway. Here is an
overview of India's Five Year Plans:
1st five year plan(1951 to 1956):
The 1st five year plan was presented by Jawaharlal Nehru, who was
the Prime Minister during that period. It was formulated for the execution of
various plans between 1951 to 1956. The Planning Commission was responsible for
working out the plan.
Objectives of the 1st five year plan(1951 to 1961):
