Planning (Part – II)

Target and actual annual economic growth rates under difference Five Year Plans are as follows:

Target and actual annual economic growth rates under difference Five Year Plans are as follows:

Target and actual annual economic growth rates under difference Five Year Plans are as follows:

The 11th Five Year Plan Acchievemets can be determined through various factors such as the service sector, transport sector,
Service Sector: During this 11th fiveyear plan the service sector witnessed a growth rate of 9.7 per cent. The sector comprises various activities like trade, hotels and restaurants, transport, storage, communication, insurance, real estate, business services, community, social and personal services. The sector plays an important role in the economy as it helps to generate employment opportunities and also provides services to other sectors. The sectoral composition of the economy has changed over the years and now the service sector contributes more than half of the GDP.
Transport, storage communication sector: In the year 200708 the hotel, transport, trade sector had a tremendous growth amounting to 10.7 per cent and in 200809 the growth was calculated as 7.6 per cent. The sector comprises various activities like trade, hotels and restaurants, transport, storage and communication. The transport sector provides services to other sectors and also helps in the movement of goods and people. The sector plays an important role in the economy as it helps to generate employment opportunities.

1. Three Annual Plans (1966-69) euphemistically described as Plan holiday.

2 Rolling Plan (1978-79)

3. No plan implemented in 1979-80

4. Two Annual Plans (1990-92): The Eighth Plan was postponed by two years because of political uncertainty at the Centre.

It is to be noted that Twelfth Five Year Plan (2012-2017) is considered the last Five Year Plan of India.

Plan Holiday plays a vital role in developing the economy of India. This contingency plan has helped the country to achieve a growth rate that is politically acceptable in terms of the economy. Effective management of resources and economics improves the growth rate in India during this period. According to estimations, the annual growth rate of India touched the mark of 6.9 percent while the country failed to achieve 5.9 percent of growth during the third plan period. Moreover, the agricultural production rate that decreased from 82 million tons to 72 million tons during the Third Five Year Plan also touched the mark of 95 million tons per annum in the 1968-1969 period of Plan Holiday. These improvements have significantly helped the country to develop a profitable economic condition that favoured the establishment of the Fourth Five Year Plan in India.

Plan Holiday plays a vital role in developing the economy of India. This contingency plan has helped the country to achieve a growth rate that is politically acceptable in terms of the economy. Effective management of resources and economics improves the growth rate in India during this period. According to estimations, the annual growth rate of India touched the mark of 6.9 percent while the country failed to achieve 5.9 percent of growth during the third plan period. Moreover, the agricultural production rate that decreased from 82 million tons to 72 million tons during the Third Five Year Plan also touched the mark of 95 million tons per annum in the 1968-1969 period of Plan Holiday. These improvements have significantly helped the country to develop a profitable economic condition that favoured the establishment of the Fourth Five Year Plan in India.