What is the main objective of first Five Year Plan?

First Five Year Plan of India (1951-56) India had to recover from the partition and the disequilibrium in the economy due to the Second World War. The First Plan, therefore, had the objectives of rehabilitating refugees, agricultural development, and self-sufficiency in food along with controlling inflation.

What was the main goal of India’s first Five Year Plan?

INDIA’S FIRST FIVE YEAR PLAN covered the period from April 1951 through March 1956; the Second Five Year Plan covers the period from April 1956 through March 1961. The main objectives of planning in India are, broadly, to double real national income in less than 20 years and to double the per capita income in 25 years.

What is the main objective of first year plan?

For instance, the First Plan (1951-56) stressed agricultural development, control of inflation and rehabilitation of refugees. The Second Plan (1956- 61) aimed at rapid industrial growth—especially basic and heavy industries. The Third Plan (1961- 66) emphasised an expansion of basic industries but shifted to defence.

What are the features of first Five Year Plan?

Salient Features of India’s Five Year Plan

Democratic:
Decentralised Planning:
Regulatory Mechanism:
Existence of Central Plan and State Plan:
Public Sector and Private Sector Plan:
Periodic Plan:
Basic Objectives:
Unchanging Priorities:

What was the first Five Year Plan?

The first five year plan was created in order to initiate rapid and large-scale industrialization across the Union of Soviet Socialist Republics (USSR). Having begun on October 1st, 1928, the plan was already in its second year when Harry Byers first set foot in the Soviet Union.

When was the first Five Year Plan started in India?

1951
7.2. 3 After independence, India launched its First FYP in 1951, under socialist influence of first Prime Minister Jawaharlal Nehru.

What were the objectives of the Fifth Five Year Plan?

The Fifth Five Year Plan India was chalked out for the period spanning 1974 to 1979 with the objectives of increasing the employment level, reducing poverty, and attaining self-reliance.

What are the main goals of five year plans in India?

The goals of Five Year plans are growth, modernisation, self-reliance and equity.

What is the name of First Five Year Plan?

Due to this, the first five year plan is also called Domer-Mahalanobis Model. It was modified version of the Harrod–Domar model with few changes. In this plan, highest priority was given to the Agriculture, Irrigation & Power Projects. Total plan budget of Rs.

What was the major thrust of the first Five Year Plan?

The First Five Year Plan (1951 -56) aimed getting the country out of the cycle of poverty. Its thrust was on agrarian sector including investment in dams because the agricultural sector was hit hardest by Partition and needed immediate attention.

What are the objectives of Fifth five year plan?

What are the long term objectives of five year plans in India?

Long term objectives of Five Year Plans in India are: High Growth rate to improve the living standard of the residents of India. Economic stability for prosperity.

What is the five (5) year plan?

The recent Five (5) Year Plan is the Twelfth (12th) Five (5) Year Plan for the period 2013-2017. Five Year Plans is the centralized national economic program which are developed, executed and monitored by the Planning Commission of India. Given below is a brief outlay of the objectives of the Five (5) Year Plans:

What was the Indian economy like prior to first five year plan?

First Five Year Plan: Prior to first five year plan, Indian economy was backward. Population was increasing more as compared to economic growth. The situation of trade and industries was far from satisfaction. The rate of capital formation was at low level. The per capita income in the country was also very low.

What are the objectives of NITI Aayog’s five year plans?

Social Welfare and Provision of Efficient Social Services: The objectives of all the five year plans as well as plans suggested by the NITI Aayog aim to increase labour welfare, social welfare for all sections of the society.