Five Year Plans

  • Joseph Stalin implemented the first Five Year Plan in the Soviet Union in the late 1920s. Most communist states and several capitalist countries subsequently have adopted them. China and India both continue to use FYPs. India launched its First Five Year Plan in 1951, immediately after independence under socialist influence of first Prime Minister Jawaharlal Nehru.
  • The Planning commission was established on 15th March 1950 with fromer Prime Minister Jawaharlal Nehru as the Chairman. The Planning Commission used to directly report to the Prime Minister of India. The 5 year plan was adopted from USSR.
  • Planning Commission was assigned the task of formulating plans for the most effective and balanced utilisation of resources and determining priorities. Since then the Planning Commission frames the centralized and integrated national economic programmes at the interval of every fiive years, thereby known as the Five Year Plans.
  • The First Fivew Year Plan of India was presented by Pandit Jawaharlal Nehru in 1951. The Planning Commission was replaced by NITI Aayog (National Institute for Transforming India Aayog) which was established by Prime Minister Narendra Modi on 1st January 2015.
First Five Year Plan:
Period: April 1, 1951 to March 31, 1956
GDP Growth Rate: Target: 2.1% Achieved: 3.6%
Aim/Priority: Agriculture

Second Five Year Plan:
Period: 1956-57 to 1960-61
GDP Growth Rate: Target: 4.5% Achieved: 4.21%
Aim/Priority: Basic and heavy industries

Third Five Year Plan:
Period: 1961-62 to 1965-66
GDP Growth Rate: Target: 5.6% Achieved: 2.8%
Aim/Priority: Agriculture

Annual Plan:
Period: 1966-67 to 1968-69

Fourth Five Year Plan:
Period: 1969-70 to 1973-74
GDP Growth Rate: Target: 5.7% Achieved: 3.3%
Aim/Priority: Agriculture, Growth with stability and Self-reliance.

Fifth Five Year Plan:
Period: 1974-75 to 1977-78
GDP Growth Rate: Target: 4.4% Achieved: 4.83%
Aim/Priority: Poverty Eradication and self reliance

Annual Plan:
Period: 1978-79 to 1979-80

Sixth Five Year Plan:
Period: 1980-81 to 1984-85
GDP Growth Rate: Target: 5.2% Achieved: 5.7%
Aim/Priority: Poverty alleviation

Seventh Five Year Plan:
Period: 1985-86 to 1989-90
GDP Growth Rate: Target: 5.0% Achieved: 6.02%
Aim/Priority: Food, Work and Productivity

Annual Plan:
Period: 1990-91 to 1991-92

Eight Five Year Plan:
Period: 1992-93 to 1996-97
GDP Growth Rate: Target: 5.6% Achieved: 6.68%
Aim/Priority: Poverty alleviation and removing unemployment

Ninth Five Year Plan:
Period: 1997-98 to 2001-02
GDP Growth Rate: Target: 6.5% Achieved: 5.5%
Aim/Priority: Growth with social justice and equality

Tenth Five Year Plan:
Period: 2002-03 to 2006-07
GDP Growth Rate: Target: 8.0% Achieved: 7.8%
Aim/Priority: Eradication of Regional imbalances

Eleventh Five Year Plan:
Period: 2007-08 to 2011-12
GDP Growth Rate: Target: 8.1% Achieved:
Aim/Priority: Inclusive Growth in all sectors
Indian Economy