Economics (Part – XIV)

Pranab Mukherjee served as the Deputy Chairman of the Planning Commission of India from 1991 to 1996. He was an Indian politician and served as the 13th President of India, from 2012 to 2017.

After independence in India, the Central Government established the Planning Commission on March 15, 1950, for the all-round development of the nation. The Planning Commission has been replaced by NITI Aayog with effect from January 1, 2015.

The Planning Commission was established by an ex-ecutive decision of the Government of India in 1950.

The Planning Commission was established by an ex-ecutive decision of the Government of India in 1950.

The Five Year Plan in India was started in 1951. The first five year plan was based on the Harald-Domar model.

The First Five-year Plan was launched in 1951 and mainly focused on the primary sector's development. The First Five-Year Plan was based on the Harrod-Domar model with few modifications.

The duration of the Fifth Five Year Plan was from 1974 to 79. The target growth rate in this five year plan was 4.4 percent, while the growth rate of 4.8 percent was achieved.

The 'Food for Work Programme' was launched during the Fifth Five Year Plan (in April 1977). In 2004, this scheme was started again under the new name "National Food for Work Program' from Ranga Reddy district of Andhra Pradesh.

The First Finance Commission was constituted vide Presidential Order dated 22.11. 1951 under the chairmanship of Shri K.C. Neogy on 6th April, 1952.

N. K. Singh is the Chairman of the 15th Finance Commission. It was constituted by the President of India, under the chairmanship of NK Singh. Its recommendations will cover a period of five years from the year 2021-22.