Five-year plans of China Current Affairs, GK & News

Plan Expenditures, Non-Plan Expenditures & Gross Budgetary Support

This article differentiates Plan Expenditure, Non-Plan Expenditure and Gross Budgetary Support and explains why the Rangarajan Panel calls for removal of plan, non-plan distinction. We all know about the Five Year Plans. In the annual budgets, the central plan is the government’s annual expenditure sheet, which follows the five year roadmap developed for the Five year Plan. ..




Second Five Year Plan (1956-1961)

The success of the First Five year plan boosted the confidence of the leaders. The agriculture growth target in the first plan was achieved, so government quickly started looking beyond agriculture. The second five-year plan focused on industry, especially heavy industry. The target of 25% Increase in the national income was set through rapid industrialization. ..