Economic Planning in India - General Knowledge for PA Exam

Planning Commission of India :

• It is an institution of Government of India which formulates India's Five Year plans. 
• Head Quarters : Yojana Bhawan, Sansad Marg, New Delhi - 110001
• Chariman : Manmohan Singh (Prime Minister)
• Deputy Chairman : Montek Singh Ahluwalia
• Member Secretary : Rajeev Ratna Shah

Important Points to Remember :

• First Industrial Resolution Policy in India - 1948 
• New Industrial Policy - 1991
• Planning Commission was set up in - 1950
• First Five year plan was started from - 1951
• Major aim of planning - To improve standards of living of people
• Removal of Poverty (Garibi Hatao) - 4th Five Year Plan (Indira Gandhi)
• Total Plan outlay for 11th Five Year Plan (2007-12) - Rs. 36,44,000 Crores
• Growth Rate for 11th Five Year Plan - 9% to 10%

Economic Planning in India :

• General Objectives :
• To improve national income and raise the standard of living in the country. 
• To attain rapid industrialization with an emphasis on basic and heavy industries.
• To create and expand employment opportunities.
• To ensure distributional justice through reduciton in inequalities in income and wealth.
• To increase employment opportunities.
• Specific Objectives :
• 1st Five Year Plan (1951-56) - Priority of Agriculture 
• 2nd Five Year Plan (1956-61) - Priority of Industries Sector
• 3rd Five Year Plan (1961-66) - Self Reliance
• 4th Five Year Plan (1969-74) - Removal of Poverty, Growth with Justice
• 5th Five Year Plan (1974-79) - Removal of Poverty and Self reliance
• 6th Five Year Plan (1980-85) - The emphasis same as 5th Plan
• 7th Five Year Plan (1985-90) - Food Production, Employment, Productivity
• 8th Five Year Plan (1992-97) - Employment Generation, Control of Population
• 9th Five Year Plan (1997-02) - Growth Rate of 7 percent
• 10th Five year Plan (2002-07) - Self employment and resources and development
• 11th Five Year Plan (2007-12) - Comprehensive and faster growth
• 12th Five Year plan (2012-17) - Improvement of Health, Education and Sanitation