Static Economics

7th Plan (1985-1990)

the Main objective was Modernization, growth, self-reliance and social justice.

Emphasised on Ecological and Environmental production.

JRY – Jawahar Rojgar Yojana was launched in 1989.

This plan focused on the promotion of sunrise industries especially food processing and electronics.

For the 1st time, the share of public sector in total plan output was less than 50%.

Two Annual plans

New Industrial policy was launched.

Beginning of large-scale liberalisation.

LPG (Liberalization, Privatisation and Globalization) was one of the main Agenda.

1991 Economic Reforms

Economic Reforms 1991:-

External Trade policy was liberalised

Licensing regime was diluted (License Raj was Abolished)

CRR, SLR were reduced

Rupee was Devaluated

Import Tariff was reduced.

MRTP was abolished(Introduced in 1969)

FERA was changed to FEMA (FERA act 1973)

8th Plan (1992-97)

Infrastructure development was emphasised.

  1. Miller Modelwas adopted in the plan.

Main objective was human resource development.

This plan focused on controlling population explosion.

Universalisation of primary education was stressed in this plan.

National Income & Industrial growth rate were higher than the targeted rate.

73rd Amendment act was introduced which gave a constitutional status to PRI (Panchayati Raj Institution)

74th Amendment act was introduced which provide the urban local government a constitutional status.

9th Plan (1997-2002)

The main objective was ‘Equitable distribution & growth with equality’.

Other features of this plan were:-

Self-reliance in Technology.

Self-sufficiency in food grains Economy.

Integrated development of all sectors of the Economy.

10th Plan (2002-2007)

The main objective of this plan was Growth with emphasis on human development.

Monitorable targets were Introduced for checking poverty, unemployment, illiteracy, Gender gap (sex Ratio), population growth, IMR (Infant Mortality Rate), MMR (Maternal Mortality Rate) and other socio-economic Aspects.

Tenth Plan also shed light on Increasing forest and tree cover to 25% by 2007.

Introduced broad framework to provide potable drinking water to all villages within the plan period.

NHM (2005-06) (National Horticulture Mission)

11th Plan (2007-2012)

The main objective was towards future sustainable & inclusive growth.

The central vision of the 11th plan was to build on our strengths to trigger a development process which ensures broad – based improvement in the quality of life of the people, especially the poor, SCs/STs, OBCs, Minorities & Women.

The target of the 11th plan was 9 percent from 7.6 percent recorded during the Tenth Plan.

12th Plan (2012-17)

The Theme of this plan is, “faster, sustainable & more inclusive growth”.

Several Monitorable targets are

(i) Growth rate of 8%

(ii) Reduce TFR (total Fertility Rate) to 2.1 by the end of 12th five-year plan)

(iii) Provide Electricity to all villages.

(iv) Connect all villages with all-weather roads.

(v) Provide access to banking services to 90% Indian households.

(vi) Major subsidies and welfare related beneficiary payment to be shifted to a direct cash transfer (DCT) facility using Aadhar platform with linked bank account.