Industrial Development During the Five year Plans In india

The Real Growth and Industrial Development in India started during the period of five-year plans.

First Five Year Plan(1951-56): The main objective of the first-year plan was on agricultural development. Therefore the Importance was given to existing Industries rather than the establishment of new industries like cotton, woolen, and jute textiles, cement, paper, medicines, paints, sugar, etc.

Second Five Year Plan(1956-61): This plan was given Importance to the establishment of heavy industries only, The main thrust of industrial development was on iron and steel,Heavy engineering, and fertilizer industries. Three new iron and steel plants were located in Bhilai, Durgapur, and Rourkela.

Third Five Year Plan(1961-66): There was an emphasis on the expansion of basic industries like iron and steel, fossil fuel, and machine building. The Ranchi Machine Tool and three more HMT units were established. Machine building, Locomotive, and Railway coach make.

Annual Plans(1966-1969): The period between 1966 and1969 was the period of annual plans. The Industrial period could not make much progress during the annual plans period.

Fourth Five Year Plan(1969-74): Industries like sugar, cotton, jute, vanaspati,metal-based and chemical industries were given much importance and It was during this plan, Much progress was made in alloys, tools aluminum, automobiles tires, electronic goods, Machine Tools, Tractors and special steel.

Fifth Five Year Plan(1974-79): The main importance was given to the rapid growth of steel plants and exports. The steel plants at Salem, Vijayanagar, and Visakhapatnam were proposed to create additional capacity, and the Steel Authority of India Ltd. (SAIL) was constituted, moreover, drug manufacturing, oil refining, chemical fertilizers, and heavy engineering industries made steady progress.

Sixth Five Year Plan(1980-85): The Main objective was on producing goods to exploit the domestic and international marketers and priority was given to industries like aluminium, automobiles, electric equipment, and thermostats. Production Targets were achieved in industries like commercial vehicles, drugs, T.V, automobiles, cement, Coal, Jute industry, railway wagons, Sugar industry, etc.

Seventh Five Year Plan(1985-90): Target mainly on electronic industries. Industrial dispersal, Self-employment, exploitation of local resources, and proper training were the preferred areas of the plan.

Eighth Five Year Plan: The Period between 1990 and 1992 was the period of annual plans. There was a major change in the industrial policy of the government of India which was initiated in 1991. The policy of liberalization was adopted for the investment of foreign multinationals. Emphasis was given to the removal of regional imbalances and encouraging the growth of employment in small and tiny sectors.

Ninth Five Year Plan(1997-2002): The main emphasis during this plan was on cement, coal, crude oil, consumer goods, electricity, Infrastructure, refinery, and quality steel products.

Tenth Five Year Plan(2007-12): During this plan, the main emphasis was on modernization, technology, upgradation, reducing transaction costs, and increasing exports and also to enhance exports and to increase global competitiveness and achieve balanced regional development.

Eleventh Five Year Plan (2007-12): This Plan gave priority to industry, infrastructure, and employment. The plan recognized that there should be a rapid industrial development that brings a faster reduction in poverty, generates employment, and ensures essential services such as health and education to all sections of the society.

Twelfth Five Year Plan (2012-2017): The planning commission focus on instilling”inclusive growth” is making headway. The Plan is expected to create employment through developing India’s manufacturing sector and move the nation higher up the value chain is a boon for Industry, The planning commission indicated that it aims to have industry & manufacturing related activities grow by 11% during this plan period, contrasted to 8% over the previous 11th five-year plan.