= ALLEN ee, CAREER MTTUTE FIVE YEAR PLANS Economic planning is the process in which the limited natural resources are used skilfully so that maximum output can be gained with the use of minimum inputs. The concept of economic planning in India is derived from the Russia (then USSR). Since 1951 to 2017 India has launched 12 five year plans. Present NDA government has decided to stop formation of new five year plan. Important facts about all the five years plans are as follows: 1 Duration of First Five Year Plan of India was from 1951 - 1956. This plan was based on the Harrod-Domar model. 2. The Second Five Year Plan (1956 - 61) of India was based on the “P.C. Mahalanobis Model" and its main focus was on the industrial development of the country 3. The Third Five Year Plan (1961 - 1966) of India is also known as the "Gadgil Yojna’. 4, The duration from 1966 to 1969 is known as the plan holiday because no five year plan could be made due to Indo- Pakistan war & failure of third plan. 5. During the Fourth Five Year Plan (1969 - 1974) the slogan of “Garibi Hatao” was given by late P.M. Indira Gandhi during the 1971 elections. 6. The draft ofthe Fifth Five Year Plan (1974- 1979) was prepared and launched by the Mr. D.P. Dhar. 7. The Janta Party Government terminated the fifth five year plan in 1977-78 and launched its own sixth five year plan for period 1978-83 which is known as the Rolling Plan. 8, The duration of Sixth Five Year Plan was from 1980 to 1985.{ts main objective was poverty eradication and technological self reliance. 9. n the Seventh Five Year Plan (1985 - 1990); private sector got the priority over public sector for the first time in the history of economic planning in India 10. Eighth Five year Plan could not take place due to volatile political situation atthe centre. Hence two annual programmes were formed in 1990-91 & 1991-92. 11. During the Eighth Five Year Plan (1992 - 1997); the New Economic Policy-1991 of India was launched under the supervision of union Finance Minister Dr. Manmohan Singh and Prime Minister Narasimha Rao. 112. Ninth Five Year Plan (1997 - 2002) was launched in the 50th year of independence of India. 13, Tenth Five Year Plan (2002 - 2007) targeted to double the Per Capita Income of India in the next 10 years. 114. Eleventh Five Year Plan (2007 - 2012); was prepared by the C. Rangarajan. The main theme of this plan was “faster and more inclusive growth”. 15. The theme of Twelfth and the last Five Year Plan (2012 - 2017) of India was “Faster, more inclusive and sustainable growth’, 16. There is no 13th Five Year plan for India. Five Year Plan implemented by Nehru Govt for bringing a social and economic development in country put to end by Modi Led Govt with the introduction of Niti Aayog (National Institution for Transforming India ) which replaced Planning Commission.ALL Last Five Year plan ended on 31 March 2017 which was extended six months for enabling ministries to complete their appraisals The new plan which is a vision document is accompanied by shorter sub-plans — a seven-year strategy for 2017-24, and a three-year ‘Action Agenda! from 2017-18 to 2019-20. No less than 300 specific action points covering a wide range of sectors have been drawn up as part of the 15-year vision. The three-year agenda is further divided into seven parts, with a number of specific action points for each part to boost economic growth. The key points from this document are as follows: Reducing fiscal deficit to 3% by 2018-19 and revenue deficit to 0.9% of the GOP by 2019-20. To double farmers’ income by several means including reform in APMCs; raising productivity through enhanced irrigation; faster seed replacement rates; recision agriculture; and a shift to high value commodities, horticulture, animal husbandry, fisheries ete. To moot the idea of Coastal Employment Zones to boost exports and generate high-productivty. To enhance the labour market flexibility through reforming the key laws. To addresse the NPAs of banks and supports auction of larger assets to private Asset Reconstruction Companies (ARCs). It also makes pitch to strengthen the SBI led ARC. It has outlines certain action points on specific sectors also To include bringing down the land prices to make housing affordable through increased supply of urban land; flexible conversion of land use; release of land held by sick units; generous Floor Space Index; reform of rent control act on the lines of Model Tenancy Act; promotion of dormitory housing; City transport and waste management. To have targeted development of North East; Coastal Areas & Islands; North Himalayan states; Desert and Drought prone states; Transport and Digital Connectivity. it also emphasizes on Railway Infrastructure and security; inland waterways; civil aviation etc. Other points included here are ensuring last mile connectivity; E- governance, financial inclusion; simplifying payment structure and improving literacy. To Facilitate Public-Private Partnership by reorienting the role of the India Infrastructure Finance Company Ltd. (IIFCL); introducing low cost debt instruments and putting National Investment Infrastructure Fund (NIIF) to work, To emphasizes to adopt consumer friendly measures such as provision of electricity to all households by 2022; LPG connection to all households and elimination of black carbon by 2022; extension of city gas distribution programme to 100 smart cities; reducing cross subsidy in the power sector; reforming the coal sector ete.