UPSC Economy GS 3

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📍 TENTH FIVE YEAR PLAN (2002-07) #Planninginindia 💡 Major objective: 8% annual growth rate. 💡 The Tenth Plan laid down an ambitious target of 8% annual growth rate for the economy, against the prevailing rate of 5.5%. ▪️@upsc_economy_notes

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📍 NITI AAYOG #Planninginindia 💡 In 2014 new government abolished the Planning Commission (PC) and replaced it by a new body—the NITI Aayog. The acronym NITI stands for National Institution for Transforming India. 📍 Transforming India The government thinks the new institution to function as a catalyst to the developmental process—nurturing an overall enabling environment, through a holistic approach to development going beyond the limited sphere of the public sector and the GoI, which will be built on the foundations of: 💡 An empowered role of states as equal partners in national development; 💡 A knowledge hub of internal as well as external resources, serving as a repository of good governance best practices, and a Think Tank offering domain knowledge as well as strategic expertise. 💡 A collaborative platform facilitating Implementation; by monitoring progress, plugging gaps and bringing together the various ministries at the Centre and in states, in the joint pursuit of developmental goals.

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📍 TWELFTH FIVE YEAR PLAN (2012-2017) #Planningindia 💡 Major objective: Faster, Sustainable and More Inclusive Growth. ▪️@upsc_geography_notes

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📍ELEVENTH PLAN (2007-12) #Planninginindia 💡 Major objective: Faster and more Inclusive Growth. 💡 The Eleventh Plan targets to resolve the regional imbalance still prevailing in the country. The Plan document, subtitled Inclusive Growth, outlines a strategy for making growth both faster and more inclusive. ▪️@upsc_economy_notes

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📍 NINTH FIVE YEAR PLAN (1997-2002) #Planninginindia 💡 Major objective: Growth with Equity and Distributive social Justice. 💡 This objective was sought to be achieved through a policy of concentrating on agriculture and rural development to provide more employment; ensuring food and nutritional security to all, especially the vulnerable; providing basic minimum needs in a time-bound manner; curbing population growth; environmental sustainability of development; empowerment of women; promotion of Panchayati Raj institutions and strengthening efforts to build self-reliance. 💡 The development strategy emphasized the role of markets and the need for the government to intervene to promote a degree of competition through suitable legislation. Licence Raj was to be ended. 💡 The Plan emphasized cooperative federalism. It also stressed the importance of infrastructural development. ▪️@upsc_economy_notes

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📍 TWO ANNUAL PLANS #Planninginindia 💡 The Eighth Plan (whose term would have been  1990–95) could not take of due to the ‘fast changing political situation at the Centre’. 💡 The two consecutive Annual Plans (1990– 92) were formulated within the framework of the approach to the Eighth Plan (1990–95) with the basic thrust on maximisation of employment and social transformation. ▪️@upsc_economy_notes

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