PLANNING COMMISSION, FIRST AND SECOND FIVE YEAR PLANS

G

gkmine

Gkmine Com
FIVE YEAR PLANS IN INDIA
Soon after independence, India faced many economic and political problems. The situation was not very stable due to the partition and the migration of refugees. Besides, there were severe food shortages and rising inflation. The government under PM Pt. Jawaharlal Nehru, inspired by the then Soviet Union model, decided to adopt the socialistic pattern of economic development and centralized planning. For this, a Planning Commission was constituted in 1951 by a government order.
 

Attachments

  • planning commission.jpg
    planning commission.jpg
    11.2 KB · Views: 0
Last edited by a moderator:
Five-Year Plans (FYPs) are centralized and integrated national economic programs. Joseph Stalin implemented the first Five-Year Plan in the Soviet Union in 1928. ... India launched its First FYP in 1951, immediately after independence, under the socialist influence of India's first prime minister, Jawaharlal Nehru.
 
You must log in or register to reply here.
Back
Top