To what extent have the plans succeeded in accelerating the growth rate of Indian economy?

Planning is done on every level of management and managing a country requires cautious and intelligent planning. India has 5-year plan policy which she adopted in 1947 and is carried on today. There are various aims and objectives laid down in these plans which gives the whole country a vision and direction in which it should work to achieve these goals.So,firstly plans have justified themselves by setting up right goals. There is another feature of these plans which is criticized a lot that these plans are over ambitious and the goals are unrealistic and cant be achieved given the limited resources.Well, in my opinion the thought is similar to that of "Dream Big,achieve big".

Besides this,statistical data shows,how India picked up growth speed post reforms.Pre reforms,India was a bit slower in growth and was stagnant as it was adjusting to the new "independent" routine.India remained the leading developing country with respect to growth rate. Liberalization,Globalization and privatization policy was part of planning.FDI allowances and reduced import duties were part of plans.All fiscal and monetary policies to be implemented are part of plans.So,when we talk about the effectiveness of plans,India had good economic planning. Where it lacked was in the efficiency.Many objectives could have been achieved if external hindrances like corruption,riots etc. would not have happened.So plans are always good,its their implementation and the economic and social atmosphere of the country which decides the success of the plan.

  • 5
What are you looking for?