This document discusses India's economic planning since independence. It outlines the evolution from the initial Five Year Plans led by the Planning Commission to guide development, to recognizing issues with the strategy and moving toward liberalization. It describes the changing role of the state from direct involvement to facilitating private enterprise and public-private partnerships, with planning providing indication, coordination and prescription for a market-based economy.

1. ECONOMIC
PLANNING
--evolution and strategy

2. EVOLUTION OF PLANNING
 Need of planning after independence
 Planning commission
 India’s economic state in 1950.
 FIVE YEAR PLANS
 The Nehruvian view(Fabian socialism)

3. Role of the State visualized
in the Fifties
 Land and agricultural reforms
 Providing basic facilities
 Limited privatization
 Encouraging investments
 Public mobilization of idle labor
In accordance with Directive
Principles

4. Early experience with Five Year
Plans
The First Five Year
Plan(1951-1956)
1. Little more than ongoing public
investment projects since
independence
2. Increase in the standard of living
3. Better employment opportunities

5. The Second Five Year Plan
1. Written by P.C.Mahanlanobis
2. Emphasis on invested goods
3. Stable long term growth was the main
objective
4. Encouragement of labor intensive forms for
consumer goods.
5. Import substitution oriented strategy(The
Third Plan)
6. Reasonable success.

6. Criticism of Mahalanobis
Model
1. Investment sector pressing upon
consumer goods sector.
2. Export pessimism led to foreign
exchange scarcity.
3. Establishment of industries was costly
and inefficient
4. Contradictory visions of growth.
5. Targets of growth were not achieved

7. Changing Perceptions
 Crisis in the 1960s.
 Extraordinary financing from IMF and World
Bank.
 Fourth plan(food security)
 Fifth plan(minimum needs)
 Sixth and Seventh plan
 Eighth plan
 Going towards liberalization

8. Role of planning in a Market
Economy
 Eighth plan
 Ninth and Tenth Plan
 State as a facilitator for private enterprise
 Public-Private Partnership(PPP)
 Prescriptions by planning commission
 Indication, Coordination and Prescription

9. Redefining the Role of the State
 PPP must be continued in the future as
well
 Government as a regulating body
 Greater attention to social sector
 The Twelfth Plan

10. THE ROAD
AHEAD…………

11. ADARSH (14113004)
ADITYA SHARMA (14113005)