Current Affairs PDF

Economics: Planning History of India

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

First attempt to initiate economic planning in India was made by Sir M. Visvesvarayya, a noted engineer and politician, in 1934 through his book, ‘Planned Economy for India’.

• In 1938, ‘National Planning Commission’ was set – up under the chairmanship of JL Nehru by the Indian National Congress. Its recommendations could not be implemented because of the beginning of the Second World War and changes in the Indian political situation.
• In 1944, ‘Bombay Plan’ was presented by 8 leading industrialists of Bombay. The Bombay Plan a fifteen year investment plan for India proposed in 1944 by a group of prominent Indian industrialists and technocrats.
• In 1944, ‘Gandhian Plan’ was given by S N Agarwal. This plan mainly focuses on the agriculture and rural economy.
• In 1945, ‘People’s Plan’ was given by M N Roy. It called for nationalization of all agricultural production and distribution besides development of consumer goods industries by the state only.
• In 1950, ‘Sarvodaya Plan’ was given by J P Narayan. A few points of this plan were accepted by the Government. In 1950 Sarvodaya Plan came out which was drafted by Jaiprakash Narayan inspired by Gandhian plan as well as Sarvodaya Idea of vinobabhave. Along with agriculture it emphasized on small and cotton industries as well