Main feature of First Five-Year Plan in India (1951-56):
It was launched in 1951.
Aimed to uplift the economy and break the cycle of poverty in India.
Led by a team of economists and planners, including Pt. Nehru.
K.N. Raj, emphasized a cautious approach to development to protect democracy.
Based on the Harrod-Domar Model.
Main focus was on the agrarian sector, with investments in dams and irrigation.
Land reforms were identified as crucial for agricultural growth and overall development.
Significant allocations were made for large-scale projects like the Bhakhra Nangal Dam.
Identified the pattern of land distribution as a major obstacle to agricultural growth.
Emphasized the need for land reforms to drive the country's development.
Aims included raising the national income level, which was challenging due to already low spending levels that couldn't be reduced further and difficulty in increasing savings. |
