Five-Year Plans of India

Five-Year Plans of India

• From 1951 to 2017, the Indian economy was based on the concept of planning.
• The Planning Commission was responsible for developing, executing, and monitoring Five-Year Plans.
• Jawaharlal Nehru was the first chairman of the Planning Commission, as the Prime Minister is the ex-officio Chairman of Planning Commission.
• Montek Singh Ahluwalia was the last deputy chairman of the Planning Commission.
• In 2014, the NDA government dissolved the Planning Commission and replaced it with NITI Aayog, a new think tank.
• India adopted the concept of five-year plans from the Soviet Union.
• The first five-year plan was launched in India in 1951.
• The topic of five-year plans of India is important for students preparing for competitive exams such as UPSC CDS, Civil Services, State PCS, SSC CGL, SSC CHSL, RRB NTPC, and other exams.