Economic Planning-Seventh Five Year Plan

Introduction

The seventh five-year plan was one of the most impactful facts that have ever happened in Indian economic history. It had taken place under the rule of Rajiv Gandhi. The seventh five-year economic plan had happened in between 1985 to 1990. There were many reasons behind the seventh five-year economic plan. One of the most important facts was to boost up the growth of the economic productivity of the areas. On the other hand, to develop the industrial sectors, the seventh five-year plan was so impactful. 

Description of the seventh five-year plan

The seventh five-year plan was one of the most crucial economic plans in the history of the Indian economy. Before this economic plan, other economic plans had taken place and did not get into action in the right manner as that needs to be. Thus, the impact of the seventh five-year economic plan had been outstanding for the development of the Indian economy as well as for the growth of the industries. The congress was the ruling party of that time and Rajiv Gandhi was the prime minister. Through some discussions with the officials and masses, he thought to make that seventh five-year economic plan happen for financial development. 

The productivity and the control over the prices of the products had been stabilised because of the plan. There was no such growth in the agriculture sector before the plan had been delivered. However, after the declaration of the seventh five-year plan, the slow development of the agriculture sector had started to see. The seventh economic plan had managed to boost energy production and socialism as well. Using modern technology to develop the industrial sectors very firmly was one of the most desired things Rajiv Gandhi tried to do. At the same time the anti-poverty programs, development of large-scale farmers helped India to be an independent economic country. 

Effects of the seventh five-year plan

The economic plans that had arisen before the seventh one did not affect the country economically and socially. However, at the time the seventh five-year economic plan had been established, development in many important sectors had been started. For example, after the seventh economic plan, India started producing more raw materials that motivated the manufacturers and industries to boost themselves. Many new industries had come across between the time and that further helped the Indian economy. The farmers were given more opportunities to work in their way. The freedom that a farmer needs to produce more and more crops and other stuff had been given by the honourable prime minister of the time, Rajiv Gandhi. 

It has resulted in an overall improvement in the Indian economy. It also helps to extend the green revolution across the new areas by foregrounding the production of rice specifically in the eastern region. That led to the agricultural growth of those areas as well. One of the most crucial roles of the seventh five-year economic plan was the development of the human resource sectors. That further assisted in accurately solving  the regional imbalances and the social development. The introduction of new technologies helps to keep the economy of the country in a much safer stage. These things directly affected the academic sectors and more studies about science and technologies had started increasing consistently. 

Strategies of the seventh five-year plan 

However, for making an announcement, especially when the announcement is about the economy of the country, there need to be some strong strategies. The seventh five-year economic plan was the most impactful plan that has ever happened in the Indian economy. Thus, it had some strong and important strategies for its establishment. One of the first strategies was to employ the new generation with the industrial sectors so that they can manage to develop the sector for further economic development. The new generation of that time was more aware of new technologies than the earlier ones, thus they had been provided new employment in the improving economy. 

Building new roads, new academic sectors, expansion of primary education are the other important strategies of the plan. The involvement of the poor households in the small sectors such as clothing, producing food grains helps for the development of the rural handicraft businesses. The production of sugar, textile, edible oil, and much other stuff had been given more attention. The higher productivity rate of the food grains was one of the most important factors that led to the economic development of the country. 

Conclusion

The whole study shows the overall impacts of the seventh five-year economic plan. The study also concludes the description of the way an economic plan needs to be established. This information will work very properly for the students who will work over it in the future. The strategies of the seventh economic plan are the most important parts that show the need for the economic plan under the rule of Rajiv Gandhi. The effects of the seventh economic plan were a very crucial part that helped the improvement of the small craft businesses and motivated more people for India’s development.