Five-year plan models - an assessment

Indian Economy – Five Year Plans (PYQ Points)

• Strategies emphasized by the Nehru-Mahalanobis Planning Model: (i) Higher rate of savings, (ii) Priority to heavy industries, and (iv) Safeguarding infant industries.
• The Nehru-Mahalanobis Model is based on: (i) Higher savings lead to higher investment, (ii) Emphasis on heavy industries for an industrial economy, (iii) Protection to developing industries (protectionist path), and (iv) Support for import substitution to achieve self-reliance.
• 'Garibi Hatao' (Removal of Poverty) and 'Growth with Social Justice' are associated with the Fifth Five Year Plan.
• The period of the Tenth Five Year Plan was 2002 – 2007.
• The First Five Year Plan was based on the Harrod-Domar Model.
• Certain expenditures are called "Non-plan expenditure" because they are expenditures not included in the Five Year Plan.
• The plan that focused on “Growth with Social Justice and Equity” was the Ninth Five Year Plan.
• Correct statements about the Eleventh Five Year Plan: (i) Its main focus was on faster and more inclusive growth, and (ii) It emphasized that the benefits of growth should reach all sections of society.
• The plan aimed at achieving