8th five year plan of india. List of all Five Year Plans of India 2022-10-07
8th five year plan of india
The 8th Five Year Plan of India was a period of economic development in India that lasted from 1992 to 1997. The plan was designed to accelerate economic growth and improve living standards for the country's citizens. It focused on several key areas, including agriculture, industry, infrastructure, and social services.
One of the main goals of the 8th Five Year Plan was to increase agricultural productivity and improve the lives of rural farmers. To achieve this, the government implemented a number of initiatives, including the expansion of irrigation systems, the introduction of new crop varieties, and the provision of credit and other forms of assistance to small farmers. These efforts helped to increase food production and reduce poverty in rural areas.
The 8th Five Year Plan also sought to promote industrial development in the country. To achieve this, the government implemented a number of measures, including the liberalization of foreign investment policies, the creation of special economic zones, and the promotion of small and medium-sized enterprises. These efforts helped to attract new investment and stimulate economic growth.
In addition to agriculture and industry, the 8th Five Year Plan also focused on improving infrastructure and social services. To improve infrastructure, the government implemented a number of initiatives, including the expansion of roads, bridges, and ports, as well as the development of new power plants and other energy projects. To improve social services, the government implemented a number of initiatives, including the expansion of education and healthcare, and the provision of assistance to the poorest and most vulnerable members of society.
Overall, the 8th Five Year Plan was successful in achieving many of its goals and helping to accelerate economic development in India. However, there were also some challenges and setbacks, including political instability, corruption, and economic recession. Despite these challenges, the 8th Five Year Plan laid the foundation for further economic growth and development in India in the years that followed.
How many 5 year plans are there in India?
Welfare Programmes by the Government of India 4. At the end of this plan, five IITs were set up in the country. The eight five year plan in Indian history is classified as important as it encourages the mass participation of the people, in enhancing the development of India. Its duration is from 2012 to 2017, under the leadership of Manmohan Singh II. If the wholesale price index rises very high or very low, structural defects in the economy are created and economic planning aims to avoid this.
The plan focused on the development of public infrastructure facilities in various areas. Others like Karnataka and Andhra Pradesh have uneven development with world class economic centres in cities and a relatively less developed hinterland. . The level of national investment proposed was Rs. In addition, the situation in East Pakistan now Bangladesh was becoming dire as the Indo-Pakistan War of 1971 and Bangladesh.
Rehabilitation of refugees, rapid agricultural development to achieve food self-sufficiency in the shortest possible time and control of inflation. Consistent with the expected resources, the size of the plan of the States and Union Territories was projected at Rs. Yet, industrial growth was 4. The basic objective of this plan was economic liberalization by eradicating poverty and achieving technological self-reliance. The plan was launched with twin objectives of alleviation of poverty and unemployment.
Economic Planning In India
It was launched for the duration of 1951 to 1956, under the leadership of II. An average annual growth rate of 6. However, the problems of poverty alleviation and human resource development are large and complex. In this plan, the top priority was given to the development of human resources i. It was made for the duration of 1956 to 1961, under the leadership of Jawaharlal Nehru. Achievements of the planned targets show that the 8th Five Year Plan had been more successful. In a bid to increase the exports in the country, the government declared devaluation of the rupee.
Eighth Five Year Plan (1992
Various government programmes during this eight five year plan also helped the economy to a great extent. Raising agriculture output to 4 percent. . Meanwhile India became a member of the World Trade Organization on 1 January 1995. Fifth Five Year Plan: I. There were two main objectives of this plan i.
Eighth Five Year Plan in India (1992
Production of food grains increased to 176. For the first time, the private sector got priority over the public sector. For a long time, there had been a feeling that for a country as diverse and big as India, centralised planning could not work beyond a point due to its one-size-fits-all approach. You can read about the National Institution for Transforming India NITI Aayog — A Brief Overview in the given link. This plan was terminated in 1978 by the newly elected Moraji Desai government.
(PDF) FiveYear Plans of India
During this plan, annual plans were made and equal priority was given to agriculture its allied sectors and the industry sector. Reduction in gender gaps in literacy and wage rates by at least 50% by 2007. At this time Indira Gandhi was the prime minister. It means the planning process did not able to create gainful employment opportunities both in the organized and unorganized sectors. During the execution of this plan, India was engaged in two wars: 1 the Sino-India war of 1962 and 2 the Indo-Pakistani war of 1965. The first five year plan was introduced by Joseph Stalin in the USSR in 1928. During this time, 14 major Indian banks were nationalized and the Green Revolution was started.
List of all Five Year Plans of India
Let us have a look at all the Five Year Plans the country has witnessed so far. Therefore, under pressure, India took the jeopardy of reforming the socialist economy. The First Five-year Plan was launched in 1951 which mainly focused in the development of the primary sector. Prior to start of the plan, there was a period of economic instability in India and hence no five year plan was implemented during 1991-1992. The growth rate of the first two years of the Eighth five-year plan was about 7. The plan helped in the development of income-generating assets in rural areas and provided the rural dwellers with a chance to earn their livelihood through sustainable ways. For example, some states like Punjab, Haryana, Gujarat, Maharashtra and Tamil Nadu are relatively well developed economically while states like Uttar Pradesh, Bihar, Orissa, Assam and Nagaland are economically backward.