Indian five year plans | Achievements of Indian 5 Year Plan

Planning is a technique through which an economy can achieve certain aims. So friends, in today’s article we are going to know about Indian five year plans (Achievements of Indian 5 Year Plan). So let’s discuss in details.

Indian five year plans | Achievements of Indian 5 Year Plan

Achievements of Indian five year plans

Achievements of Indian five plan before liberalization (1950 -1990). The major achievements of the 5 year plans are given below -

• Increasing National Income - National income is an indication of economic development. During the last 40 years the national income of India has increased significantly.

• Development of Agriculture - Agriculture is the primary occupation of India. From planning etc. has improved considerably. As a result the literacy rate increased, death rate and life expectancy increased.

Achievements of Indian 5 years plan after liberalization

Introduction of LPG policy gave a new dimension to Indian planning process. During post LPG period, Indian planning has achieved following success -

• Growth of Service Sector - At present the contribution of the service sector in Indian GDP is comparatively very high. The introduction of liberalization and privatization policy accelerated the growth of the service sector of different types.

• Development of Human Capital - In order to realize the goal of LPG it is necessary to develop the human capital. During post liberalization period Indian economy has experiencing huge expansion of education, healthcare, water supply.

Read More Article

•  What is Economic Planning? | Economic Planning in India

• What is balance sheet of a commercial bank? | The balance sheet of a commercial bank


So friends, this was concept of Indian five year plans. Hope you get the full details about it and hope you like this article.

If you like this article, share it with your friends and turn on the website Bell icon, so don't miss any articles in the near future. 

Because we are bringing you such helpful articles every day.  If you have any doubt about this article, you can comment us. Thank You!

Post a Comment