ON
ECONOMIC PLANNING IN INDIA - Prospects & Retrospect”
ANKIT KATARYA
Subject: Project study on “Economic Planning in India – Retrospect & Prospects”
This is regarding the project done by our group for Economic Environment of Business. In this project study we have tried to go through and take reference from various books, articles and websites.
The project study has been done to critically analyze the various facets of Economic planning in India and also for the purpose of evaluation of our group for internal assessment, by the authorization of our faculty members Prof. Megha Chandok. We are indebted to her for helping us with our report preparation and in future also we will be privileged to take assistance from her.
Acknowledgement
We would like to acknowledge the help and support of Prof. Meghna Chandok without whose support this project would not have seen the light of the day.
We are grateful to her for not only guiding us through this project but also providing us unflinching support and endless resources in making our endeavor a success.
We are also extremely thankful to all the members of the group for their support to finish the project.
1st Five-Year Plan (1951-1956)
The 1st five year plan was presented by Jawaharlal Nehru, who was the Prime Minister during that period. It was formulated for the execution of various plans between 1951 & 1956. The Planning Commission was responsible for working out the plan.
Objectives of the 1st five year plan (1951 to 1961):
The primary aim of the 1st five year plan was to improve living standards of the people of India. This could be done by making judicious use of India's natural resources. The total outlay of the 1st five year plan was worth Rs.2,069 crore. This amount was assigned to different sectors which included:
1. Industrial sector
2. Energy, Irrigation
3. Transport,