What is Five Years Plan?
The Five Year Plans were planned, developed, and executed under the Planning Commission, from 1951 to 2014 and after it from 2015-2017 under NITI Aayog. Montek Singh Ahluwalia was represented as the last deputy chairman of the Five-year Planning Commission. He laid his resignation on the date 26th May in the year 2014. However, in the year 2014, Then Prime Minister Mr. Narendra Modi made an announcement about the dissolution of the Planning Commission and the establishment of the NITI Aayog.
The five-years plans were started between the years 1951 to 2017. The first five-year plan was commenced in the year 1951. The major achievement of the first five-year plan was the setup of five Indian Institutes of Technology (IITs). This was followed by the development of the second-year plan in the year 1956, which aimed at rapid industrialization based on the socialistic pattern of society. The third five-year plan came as a means to establish and setup of a self-reliant economy. The plan holidays were developed between the years 1966 to the year 1969. It highlighted the issue of agricultural and food shortage crises across the nation. After this, a large number of five-year plans were developed. Garibi Hatao Target and development of a self-reliant economy was the major target for several years. The issue of poverty was focused on during the sixth five-year plan. Consequently, during the later years, power generation increase and enhance productivity. Similarly, over a period of years, the twelfth plan was developed to achieve sustainable and economical development.
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