Present a critical overview of the success and failures of the five year plans with respect to Industries in India.

The importance given to the heavy industries from 2nd five year plan onwards resulted in increase in national income, growth in agriculture sector, development of heavy industries, increase in employment, development in science & technology, increase in capital formation and capital reserves and self reliance, development in educational system, better healthcare facilities and increase in life expectancy. However, regional imbalance and monopolistic growth hampered the sustainable growth. Small scale industries, which were responsible for employment generation were neglected. No solution of problems like poverty, malnutrition, hunger, high unemployment, injustice to women and weaker sections etc.

Topics: GS-III: Changes in Industrial Policy and Their Effects On Industrial Growth