Five-year plan
Also called: FYP · Topic: Politics of Planned Development · NCERT: Class 12, Ch 3 "Politics of Planned Development"
Meaning
A five-year plan is a government document that sets priorities for income and spending over five years. India borrowed the idea from the USSR. In India the Planning Commission drew up the plans, and the National Development Council, made up of the PM and all Chief Ministers, approved them. India ran twelve such plans between 1951 and 2017. The Twelfth Plan ended on 31 March 2017, and the era of five-year plans ended with it.
Example
The First Plan (1951-56) focused on agriculture and dams such as Bhakra Nangal. The Second Plan (1956-61) focused on heavy industry. The Fourth Plan was put off and began only in 1969, after a "plan holiday" of three annual plans.
Don't confuse with
- Annual plans: these were one-year plans used during the plan holiday (1966-69) in place of a five-year plan.