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Economic Planning Strategy in India

In order to achieve the long-term and short-term objectives set in the each five year, specific strategies are required. It involves allocation resources across different sectors of the economy in tandem with the specified objectives. It involves selection choices like development of agricultural sector or industrial sector, public sector or private sector involvement, closed economy […]

Structural Changes in Indian Industries

There key changes that occurred in the Industrial structure of the country during planning period are as follows: Overall industrial production went up by 5 to 6 times In last 65 years,  Industrial overall production went up by five-six times, making India one of the top 10 most Industrial nations of the world. The industrial […]

Industrial Growth in India During Five Year Plans

First Five Year Pan On the eye of the First Five Year Plan, the Industrial Development in India was confined largely to the consumer goods sector, the important Industries being Cotton Textile, Sugar, Salt, Soap, ‘Leather goods and Paper. Thus the Industrial Structure exhibited the features, of an underdeveloped economy. Industries manufacturing “Intermediate products” like […]

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. […]

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