Five Year Plans of India -- 3 Volume Set

Economic planning is concerned with the effective and optimal utilisation of the potential resources of an economy. This is particularly so in the context of underdeveloped countries which are striving to raise the standard of living of the masses. In fact, planning is a process aiming not merely at the best utilisation of material resources but also at the development of human faculties and institutional framework suitable to the needs and aspirations of the people. The establishment of Planning Commission in 1950 heralded a new era in the economic history of India. It makes an assessment of the material, capital and human resources of the country, including technical personnel, and investigates the possibilities of augmenting such of these resources as are found to be deficient in relation to the requirements of the country. It, then, formulates a Plan for the most effective and balanced utilisation of these resources. India's First Five Year Plan was launched on 1 April 1951. Since then, eleven Five Year Plans have been completed and the Twelfth Five Year Plan (2012-13 to 2016-17) is underway. This book provides a comprehensive account of various aspects of economic planning in India. It traces the structural changes which have transformed India from a traditional agricultural economy to a technologically strong, industrially diversified and militarily powerful country. Part I of the book contains two chapters: Chapter 1 explains the determinants and constraints of economic development. Chapter 2 describes the principles of economic planning. Part II comprises of five chapters: Chapter 3 deals with human and natural resources of India. Chapter 4 discusses the problems and issues in India's development efforts. Chapter 5 explains the institutional framework for economic planning in India. Chapter 6 records achievements of Five Year Plans. Chapter 7 highlights the areas of concern and makes an overall assessment of the planning experience. Part III contains two chapters: Chapter 8 provides sector-wise account of economic reforms in India (1991 to 2013). Chapter 9 discusses future prospects and challenges before the Indian Economy. Parts IV to XV provide sector-wise summary of and sector-wise edited extracts from each of the Five Year Plans (I to XII) under the following 12 common theme headings: 1. Agriculture and Rural Development. 2. Industrial Policy and Public Sector. 3. Mineral Resources. 4. Electricity and Other Renewable Energy Sources. 5. Urban Development and Housing. 6. Transport and Communications. 7. Employment and Labour Welfare. 8. Health, Family Planning and Nutrition. 9. Education, Training and Skill Development. 10. Science and Technology. 11. Social Welfare.12. Balanced Regional Development. The 12 theme headings cover almost all the sectors of the Indian economy. Reader will find it easy to comprehend how a particular sector of the Indian economy was treated in terms of priority, strategy, and allocation of resources in the successive Plans. Part XVI contains sector-wise time-series data on the Indian economy from 1950-51 to 2011-12. The book would be useful for a cross-section of academic community and researchers, both in India and abroad. It will also serve the needs of legislators, business executives, entrepreneurs and investors, and others interested in the developments in the Indian economy.