First Five Year Plan


 
 
Concept Explanation
 

First Five Year Plan

First Plan (1951-1956): It accorded top priority to agriculture, especially irrigation and power projects. Its total budget of 206.8 billion INR was allocated to seven broad areas: irrigation and energy (27.2 percent), agriculture and community development (17-4 percent), transport and communications (24 percent), industry (8.4 percent), social services (16.64 percent), land rehabilitation 4.1 percent), and other (2.5 percent). The target growth rate was 2.1 percent annual gross domestic product (GDP) growth; the achieved growth rate was 3.6 percent annual GDP growth. During the first five-year plan, the net domestic product went up by 15 percent. Per Capita Income went up 8 percent.

Lower increase of per capita income as compared to national income was due to rapid population growth. Many irrigation projects were initiated during this period, including the Bhakra Dam, Hirakud Dam, and Mettur Dam in South India. At the end of the plan period in 1956, five Indian Institutes of Technology (ITS) were started as major technical institutions. University Grant Commission was set up to take care of funding and take measures to strengthen the higher education in the country.

Sample Questions
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Question : 1

________________ was the main focus of Our First Five Year Plan.

Right Option : D
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