Economic Policies and the Planning Process
(Detailed Notes)
Unit 9
UGC NET HISTORY
Language
Choose your preferred language
Economic Policies and the Planning Process
🎨 Reading Colors
Background
Text Color
Table of Contents
- Introduction
- Thrust Areas of Economic Planning
- Poverty Alleviation
- Economic Growth
- Equality and Social Justice
- Self-reliance
- Employment Generation
- Regional Balance
- Development Initiatives During different Plans
- First Five Year Plan (1951-1956)
- Second Five Year Plan (1956-1961)
- Third Five Year Plan (1961-1966)
- Annual Plans (1966-1969)
- Fourth Five Year Plan (1969-1974)
- Fifth Five Year Plan (1974-79)
- Sixth Five Year Plan (1980-85)
- Seventh Five Year Plan
- Development Performance
- Agriculture
- Industry
- Infrastructure Development
Introduction
India inherited a dismal economic condition from British rule, with the economic state at the time of Independence being quite sordid.
India's developmental pattern during the pre-liberalization period (1950-1990), spanning four decades, was characterized by strong centralized planning.
The period featured government ownership of basic and key industries.
There was excessive regulation and control over private enterprises.
Trade protectionism was maintained through tariffs and non-tariff barriers.
A selective approach was adopted towards foreign capital.
The basic objectives of planning during this period were:
Growth
Social justice
Modernization
Self-reliance
Socio-economic development.