All about Fifth Five-Year Plan

The main objective of this Fifth Five-year plan is to eradicate poverty and provide employment opportunities and justice. It has also focused on self-reliance in terms of Agricultural and defence requirements. There have been some changes since the second five-year plan, most notably the change in Prime Minister from Jawaharlal Nehru to Indira Gandhi. Let’s take a closer look at these changes and what they mean for India’s future.

What Are Five-Year Plans In India?

The Five-Year Plans are a series of socio-economic development initiatives undertaken by the Government of India to transform India into a developed nation.

• The first five-year plan was launched in 1951 and since then, India has completed 11 such plans (as of 2020).
• The second five-year plan was launched in 1956 and it witnessed a great deal of socio-economic development in the country.
• The third five-year plan was launched in 1961 and is focused on agriculture and industry.
• The fourth five-year plan was launched in 1969 and is concentrated on self-reliance.
• The fifth five-year plan was launched in 1974 and is focused on poverty alleviation.
• The sixth five-year plan was launched in 1980 and is focused on employment generation.
• The seventh five-year plan was launched in 1985 and is focused on rural development.
• The eighth five-year plan was established in 1992 and is focused on infrastructure development.
• The ninth five-year plan was launched in 1997 and is focused on social sector development.
• The tenth five-year plan was launched in 2002 and is focused on inclusive growth.
• The eleventh five-year plan was launched in 2007 and is focused on equitable development.
• The twelfth five-year plan is currently underway (2012-2017) and it focuses on inclusive and sustainable growth.

What Is The Fifth Five-Year Plan Of India?

The Fifth Five-Year Plan of India (1974–1979) was formulated by the Indira Gandhi government. It focused on agriculture, poverty alleviation, and employment generation. The plan also aimed to reduce social and economic inequality between different sections of society.

What Were The Objectives Of The Fifth Five-Year Plan?

The main objective of the Fifth Five-Year Plan was the development of basic and heavy industries, employment generation, poverty alleviation, and population control. 

• Employment Generation: One of the most important objectives of the Fifth Five Year Plan was to create employment opportunities. It was estimated that about 50 lakh new jobs would be generated during the plan period.
• Poverty Alleviation: Another objective of the plan was to alleviate poverty and increase economic growth. The target set for poverty alleviation was to bring down the number of people below the poverty line to 22 per cent by the end of the plan period.
• Population Control: The Fifth Five Year Plan also aimed at population control measures. The target set for population control was to reduce the population growth rate to about two per cent per annum.

What Is The Difference Between Second And Fifth Year Planning?

The main difference between the Second and Fifth Five Year Plans was that the former focused on achieving socialist goals while the latter shifted focus to Indian economic self-reliance.

Also, the Fifth Plan was more comprehensive in scope, with detailed targets and sector-specific strategies.

Who Was The Prime Minister During The Fifth Five-Year Plan?

The fifth five-year plan was implemented during the prime ministership of Indira Gandhi. She is India’s only female Prime Minister and served for a total of eleven years.

What Were The Main Achievements Of The Fifth Five Year Plan?

The main achievements of the Fifth Five Year Plan include the following:

• The economy grew at an annual rate of about six per cent.
• Inflation was brought under control.
• The balance of payments position improved.
• The rate of investment increased.
• Agricultural production registered healthy growth.
• Industry expanded at a rapid pace.
• Employment opportunities increased.
• The standard of living of the people improved.
• Social justice was promoted.
• Several basic needs were met.
• The target of eradicating poverty was nearly achieved.
• Infrastructure development took place on a large scale.
• The quality of life improved significantly.
• The plan helped in the overall development of the country.

Conclusion

The Fifth Five-Year Plan was a success in many ways. It helped to increase production and employment, while also reducing poverty and inequality. The Plan was able to achieve these objectives due to its focus on investment in infrastructure and industry, as well as its emphasis on agricultural development. While the Fifth Five-Year Plan did have some shortcomings. The main objective of the Fifth Five-Year Plan was to accelerate the rate of economic growth and reduce inequalities in income and wealth. The Plan focused on investment in infrastructure and industry, as well as agricultural development. These investments helped to increase production and employment, while also reducing poverty and inequality.