Since Independence, the Indian economy has been premised on the concept of planning.

This has been carried

through the Five-Year Plans, developed, executed, and monitored by the Planning Commission. With the Prime
Minister as the ex-officio Chairman, the commission has a nominated Deputy Chairman, who holds the rank of a
CFive-Year Plans (FYPs) are centralized and integrated national economic programs. Joseph Stalin implemented the
first FYP in the Soviet Union in the late 1920s. Most communist states and several capitalist countries subsequently
have adopted them. China and India both continue to use FYPs, although China renamed its Eleventh FYP, from
2006 to 2010, a guideline (guihua), rather than a plan (jihua), to signify the central governments more hands-off
approach to development. India launched its First FYP in 1951, immediately after independence under socialist
influence of first Prime Minister Jawaharlal Nehru.
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The First Five-Year Plan was one of the most important because it had a great role in the launching of Indian
development after the Independence. Thus, it strongly supported agriculture production and it also launched the
industrialization of the country (but less than the Second Plan, which focused on heavy industries). It built a particular
system ofmixed economy, with a great role for the public sector (with an emerging welfare state), as well as a
growing private sector (represented by some personalities as those who published the Bombay Plan).
India has a mixed economy system. In a mixed economy system the public sector (Governed-owned) enterprises exist,
along with private sector enterprises to achieve a socialistic pattern of society.
Planning In India:
After independence India adopted a planned system of economy. Government of India constituted a Planning
Commission in March 1950 with the Prime Minister of India as its chairman. Planning Commission is a statutory
body.
National Development Council-
Chief Ministers of all the states of the country and the members of the Planning Commission of India constitute the
National Development Council. The Prime Minister of India presides over the council.
Five Year Plans in India-
India after independence adopted the five year plans concept for the planned economic development of the country.
The idea of five year plans in India was mooted by the great Indian engineer M. Visvesvarayya. This five year plan
concept has been taken from the erstwhile U.S.S.R.
First five year plan-
First five year plan in India was launched in 1951-52. The period of this plan was 1951-52 to 1955-56. This plan gave
the priority to the development of agriculture, irrigation, power and transport in order to create a base for rapid
industrial growth of the country.
Second five year plan-
The period of second five year plan I was 1956-57 to 1960-61. The main emphasis in second five year plan was laid on
the industrial development.
Periods Covered By Different Plans:
1.First five year plan 1951-56
2.Second five year plan 1956-61
3.Third five year plan 1961-66
4.Annual plan 1966-67
5. Annual plan 1967-68
6.Annual plan 1968-69
7. Fourth five year plan 1969-1974
8.Fifth five year plan 1974-78
9.Sixth five year plan 1980-85
10. Seventh five year plan 1985-90
1. Twenty Point Programme
2. Food for Work Programme
3. Minimum Needs Programme
4. Integrated Rural Development Programme (IRDP)
5. National Rural Employment Programme
6. Rural Labourers Employment Guarantee Programme
7. Jawahar Rozgar Yojna
8. Pradhan Mantri Grammoday Yojna
9. Self Employment to the Educated Urban Youth