What is a 5 year Plan? The economy of India is based in part on planning through its five-year plan, which are developed, executed and monitored by the planning commission. The tenth plan completed its term in March 2007 and the eleventh plan is currently underway. Prior to the fourth plan, the allocation of state resources was based on schematic patterns rather than a transparent and objective mechanism, which led to the adoption of the Gadgil Formula in 1969. Revised versions of the formula have been used since then to determine the allocation of central assistance for state plans.
Planning Commission.The Planning commission is an institution in the Governmentof India, which formulates India’s Five-year Plan, among otherfunctions.Functions:- 1) To formulate a plan for the most effective and balanced utilization of countrys resources.2) To define the stages, on the basis of priority, in which the plan should be carried out and propose the allocation of resources for the due completion of each stage.3) To indicate the factors that tend to retard economic development.4) To determine the conditions which need to be established for the successful execution of the plan within the incumbent socio-political situation of the country.5) To make necessary recommendations from time to time regarding those things which are deemed necessary for facilitating the execution of these functions.
The Fourth Year Plan. (1969–1974) time Indira Gandhi was the Prime minister of At this India. The Indira Gandhi government nationalized 14 major Indian banks and the Green Revolution in India advanced agriculture. Funds earmarked for the industrial development had to be diverted for the war effort. India also performed the Smiling Buddha undergone unclear test in 1974, partially in response to the .United states of the seventh fleet in the Bay of Bengal. The fleet had been deployed to warn India against attacking West Pakistan and extending the war. Target Growth: 5.7% Actual Growth: 3.30%
Planning Commission of “4YP” INDIRA GANDHI Chairman D.R. GADGIL Deputy Chairman R. VENKATARAMAN Member B. VENKATAPPIAH Member PITAMBAR PANT Member B.D. NAG CHAUDHURI Member B.D. PANDE Secretary (August 1967 - February 1970) A. MITRA Secretary (February 1970)
Gadgil Formula The Gadgil formula is due to D.R. Gadgil, the social scientist and the first critic of Indian Planning. It was evolved in 1969 for determining the allocation of central assistance for state plans in India. Gadgil formula was adopted for distribution of plan assistance during Fourth and fifth year plan
Objectives in GadgilFormula. PopulationIn India population acts as an apt measure to represent the requirements of the people because a major portion of the population lives below the poverty line. Tax effortThis is an important factor to measure the potential of the state as far as its own resources are concerned. This relative measure incentivizes the states to undertake measures to increase their own potential through various tax measures. State per capita incomeA problem regarding unequal development amongst the states was faced in the earlier plans because of larger states with their large plans were able to get a larger share of resources from the centre. This led to increased inequalities amongst the states. Irrigation and power projectsThese projects have been in the process of implementation before the fourth plan was formulated.
Green Revolution India. The introduction of high yielding varieties of seeds in India. and the increased use of fertilizers and irrigation are known collectively as the Green revolution, which provided the increase in production needed to make India self-sufficient in food grains, thus improving agriculture of India.
Important Topic considered. Approach and Policy. Village and small The long term Industries. perspective Industry and Minerals Plan in outline . Transport and Financing the plan Communication Foreign Trade. Education & Manpower Implementation. Scientific Research Agriculture. Health & Family Planning Animal Regional Development Husbandry, Dairying, Fis Housing & water Supply hing and forests.. Social Welfare Cooperation and Welfare & Development community building. Of Backward Classes Food and Nutrition Labor & Employment Irrigation and Flood Other Programmes. Control. Power.
Nationalized Bank. Allahabad bank. Punjab National Andhra Bank. Bank. Bank of Baroda. UCO Bank. Bank of Vijaya Bank. Maharashtra. State Bank of Canara bank. Bikaner. Central Bank of Indian overseas India. Bank. Corporation Bank. Syndicate Bank. Dena Bank.
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