The first five-year plan in India was initiated in 1951 and since then, India has observed twelve Five Year Plans. The current government had nevertheless ceased the Five-year plan system and a new method was implemented.

 

  1. First Five Year Plan:
  • It commenced from 1951 to 1956, under the headship of Jawaharlal Nehru. 
  •  Its primary focus was on the agricultural growth of the country.
  •  This plan was victorious and attained a growth rate of 3.6% (more than its aim of 2.1%). 
  • After this plan, five IITs were instituted in the country. 

 

  1. Second Five Year Plan:
  • It was formulated from 1956 to 1961 under the headship of Jawaharlal Nehru.
  •  Its central focus was on the industrial growth of the country.
  • This plan lagged behind its aimed growth rate of 4.5% and accomplished a growth rate of 4.27%. 

 

  1. Third Five Year Plan:
  • It was formulated from 1961 to 1966 under the headship of Jawaharlal Nehru. 
  • The main objective of this plan was to create an economy independently. The focus was laid on agriculture and the development of wheat production. 
  • The plan was a flop because of wars and drought. The target expansion was 5.6%, whilst the achieved growth was 2.4%. 

 

  1. Plan Holidays:
  • Because of the collapse of the previous plan, the government publicised three annual plans identified as Plan Holidays starting from 1966 to 1969.
  • Throughout this plan, annual plans were formulated and equal priority was laid on agriculture, its associated sectors, and the industry sector.
  • In a bid to boost the exports in the country, the government announced a devaluation of the rupee. 

 

  1. Fourth Five Year Plan:
  • Its period was from 1969 to 1974, under the headship of Indira Gandhi. 
  • There were two primary aims of this plan, i.e. growth with constancy and progressive accomplishment of self-reliance.
  • This plan fell short and could attain a growth rate of 3.3% only against the aim of 5.7%.

 

  1. Fifth Five Year Plan:
  • Its period was 1974 to 1978.
  • This plan was based on Garibi Hatao, justice, employment, agricultural production, and defence.
  • Overall this plan was flourishing, which attained a growth of 4.8% against the objective of 4.4%.
  • This plan was discontinued in 1978 by the Morarji Desai government. 

 

  1. Rolling Plan:
  • After the extinction of the fifth Five Year Plan, the Rolling Plan came into consequence from 1978 to 1990. 
  • Three plans were launched under the Rolling plan: (1) For the budget of the current year, (2) this plan was meant for a set number of years– 3,4 or 5, (3) Perspective plan for long tenures– 10, 15, or 20 years. 

 

  1. Sixth Five Year Plan:
  • Its period was from 1980 to 1985, under the headship of Indira Gandhi. 
  • The fundamental purpose of this plan was Indian economic planning and liberalisation by eliminating poverty and accomplishing technological self-reliance.
  • It was focused on investment Yojna, infrastructural change, and inclination to the growth model.
  • Its growth objective was 5.2%, but it attained a 5.7% growth.

 

  1. Seventh Five Year Plan:
  • Its period was from 1985 to 1990, under the headship of Rajiv Gandhi. 
  • The aims of this plan comprise the founding of a self-sufficient economy, opportunities for prolific employment, and the up-gradation of technology.
  • Its growth goal was 5.0%, but it attained 6.01%.

 

  1. Annual Plans:
  • The Eighth Five Year Plan could not happen because of the unstable political situation at the centre.
  • Two annual programs were outlined for the year 1990-91& 1991-92.

 

  1. Eighth Five Year Plan:
  • Its period was from 1992 to 1997, under the headship of P.V. Narasimha Rao. 
  • In this plan, the complete focus was given to the growth of human resources, i.e. employment, education, and public health.
  • This plan was triumphant and achieved an annual growth rate of 6.8% against the objective of 5.6%.

 

  1. Ninth Five Year Plan:
  • Its period was from 1997 to 2002, under the headship of Atal Bihari Vajpayee. 
  • The significant inclination of this plan was “Growth with Social Justice and Equality”.
  • It was initiated in the 50th year of the independence of India.
  • This plan failed to attain the growth aim of 6.5% and attained a development rate of 5.6%.

 

  1. Tenth Five Year Plan:
  • Its period started from 2002 to 2007, under the headship of Atal Bihari Vajpayee and Manmohan Singh. 
  • This plan targeted to double India’s Per Capita Income in the upcoming 10 years.
  • It furthermore aimed to decrease the poverty ratio to 15% by 2012.
  • Its growth objective was 8.0%, but it accomplished only 7.6%.

 

  1. Eleventh Five Year Plan:
  • Its period was from 2007 to 2012, under the headship of Manmohan Singh. 
  • Its central premise was “rapid and more inclusive growth”.
  •  It attained a development rate of 8% against an objective of 9% growth. 

 

  1. Twelfth Five Year Plan:
  • Its period is from 2012 to 2017, under the headship of Manmohan Singh. 
  • Its central theme was “Faster, More Inclusive and Sustainable Growth”.
  • Its development rate target was 8%.

Conclusion

The NITI Aayog substitutes the Planning Commission. Therefore, there was no thirteenth Five Year Plan; nevertheless, the five-year defence plan was formulated.