The Planning Commission was an institution in the government of India which formulated India's Five-year plans. After India achieved independence, a formal model of planning was adopted, reporting directly to the PM of India. It was established on 15th March 1950, with PM Pandit Jawaharlal Nehru as the Chairman. The idea was taken from the Soviet Union (USSR).
1934: Visvesvaraya Plan
M. Visvesvaraya outlined planning in his book "The Planned Economy of India".
1938: Congress Plan
Proposed by Nehru; however, it was not implemented due to World War II.
1944: Bombay Plan
Drafted by industrialists like JRD Tata, GD Birla, Kasturbhai Lalbhai et al.
1945: People's Plan
Proposed by MN Roy.
1950: Sarvodaya Plan
By Jayaprakash Narayan, based on Vinoba Bhave's philosophy.
1950: Cabinet Resolution
Formal resolution to form the Planning Commission.
1952: National Development Council (NDC)
Established by a cabinet resolution to approve the plans.
1st FYP (1951-56): Harrod Domar Model
Focus: Agriculture, Irrigation & Power.
2nd FYP (1956-61): P.C. Mahalanobis Model
Objective: Rapid industrialization.
3rd FYP (1961-66): Gadgil Yojna
Focus: Production of wheat. Failed due to droughts & wars with Pakistan and China.
4th FYP (1969-74)
Key event: 1969 - Nationalisation of 14 major banks.
5th FYP (1974-79): D.D. Dhar Model
Focus: Poverty Alleviation. Slogan: "Garibi Hatao". Rejected by the newly elected Morarji Desai government in 1978.
6th FYP (1980-85)
Focus: Economic liberalisation by Eradicating poverty & achieving technological self reliance.
7th FYP (1985-90)
Focus: Private sector got priority for the first time.
8th FYP (1992-97)
Focus: Implementation of LPG Reforms (Liberalisation, Privatisation, Globalisation). New Economic Policy.
9th FYP (1997-2002)
Launched in the 50th year of India's independence.
10th FYP (2002-07)
Growth target: 8%. Achieved: 7.6%.
11th FYP (2007-12)
Theme: Rapid & more inclusive growth.
12th FYP (2012-17)
Theme: Faster, more inclusive & sustainable growth. (Last Plan).
Established on 1st January 2015 to replace the Planning Commission. It serves as the think tank of India.
CHAIRMAN
Prime Minister of India
VICE CHAIRMAN
S. Suman Berry
CEO
BVR Subrahmanyam
HEADQUARTERS
New Delhi
• It is an Extra-Constitutional body.
• Nodal agency for Sustainable Development Goals (SDGs): 17 goals and 169 sub-goals.
When was the Planning Commission of India established?
The 1st Five Year Plan (1951-56) was based on which model?
Which Five Year Plan focused on 'Garibi Hatao' (Poverty Alleviation) and was later rejected by the Morarji Desai government?
The 8th Five Year Plan (1992-97) is significant for implementing which reforms?
Under which Five Year Plan did the private sector get priority for the first time?
NITI Aayog is also known as the: