5 Year Plan in India

5 Year Plan in IndiaThe Fourth Year Plan.

What is a 5 year Plan?Theeconomy of India is based in part onplanning through itsfive-year plan, which are developed, executed and monitored by theplanning commission. The tenth plan completed its term in March 2007 and the eleventh plan is currently underway.Prior to the fourth plan, the allocation of state resources was based on schematic patterns rather than a transparent and objective mechanism, which led to the adoption of theGadgil Formulain 1969. Revised versions of the formula have been used since then to determine the allocation of central assistance for state plans.

Planning Commission.ThePlanning commissionis an institution in theGovernment of India, which formulatesIndias Five-year Plan, among other functions.Functions:- 1) To formulate a plan for the most effective and balanced utilization of country's resources.2) To define the stages, on the basis of priority, in which the plan should be carried out and propose the allocation of resources for the due completion of each stage.3) To indicate the factors that tend to retard economic development.4) To determine the conditions which need to be established for the successful execution of the plan within the incumbent socio-political situation of the country.5) To make necessary recommendations from time to time regarding those things which are deemed necessary for facilitating the execution of these functions.

The Fourth Year Plan. (19691974)

At this timeIndira Gandhiwas thePrime minister of India.The Indira Gandhi governmentnationalized14 major Indian banks and theGreen Revolution in Indiaadvanced agriculture.Funds earmarked for the industrial development had to be diverted for the war effort. India also performed theSmiling Buddha undergone unclear test in 1974, partially in response to the.United states of theseventh fleetin the Bay of Bengal.The fleet had been deployed to warn India against attacking West Pakistanand extending the war. Target Growth: 5.7% Actual Growth: 3.30%

Planning Commission of 4 YPINDIRA GANDHI ChairmanD.R. GADGIL Deputy Chairman R. VENKATARAMAN Member B. VENKATAPPIAH Member PITAMBAR PANT Member B.D. NAG CHAUDHURI Member B.D. PANDE Secretary (August 1967 - February 1970)A. MITRA Secretary (February 1970)

Gadgil FormulaTheGadgil formulais due toD.R. Gadgil, the social scientist and the first critic of IndianPlanning. It was evolved in 1969 for determining the allocation of central assistance for state plans inIndia. Gadgil formula was adopted for distribution of plan assistance duringFourth andfifth year plan

Objectives in Gadgil Formula.PopulationIn India population acts as an apt measure to represent the requirements of the people because a major portion of the population lives below the poverty line. Tax effortThis is an important factor to measure the potential of the state as far as its own resources are concerned. This relative measure incentivizes the states to undertake measures to increase their own potential through various tax measures.State per capita incomeA problem regarding unequal development amongst the states was faced in the earlier plans because of larger states with their large plans were able to get a larger share of resources from the centre. This led to increased inequalities amongst the states. Irrigation and power projectsThese projects have been in the process of implementation before the fourth plan was formulated.

Green Revolution India.The introduction ofhigh yielding varieties of seeds in India.and the increased use offertilizersandirrigationare known collectively as theGreen revolution, which provided the increase in production needed to makeIndiaself-sufficient in food grains, thus improvingagriculture of India.

Important Topic considered.Approach and Policy.The long term perspectivePlan in outline .Financing the planForeign Trade.Implementation.Agriculture.Animal Husbandry, Dairying, Fishing and forests..Cooperation and community building.Food and NutritionIrrigation and Flood Control.Power.Village and small Industries.Industry and MineralsTransport and CommunicationEducation & ManpowerScientific ResearchHealth & Family PlanningRegional DevelopmentHousing & water SupplySocial WelfareWelfare & Development Of Backward ClassesLabor & EmploymentOther Programmes.

Nationalized Bank.Allahabad bank.Andhra Bank.Bank of Baroda.Bank of Maharashtra.Canara bank.Central Bank of India.Corporation Bank.Dena Bank.Punjab National Bank.UCO Bank.Vijaya Bank.State Bank of Bikaner.Indian overseas Bank.Syndicate Bank.

THANK YOU!.Information Collected From the Following sources:-Wikipedia.Planningcommission.nic.inGoogle For Images.