Үндістан экономикасының жоспарлы даму кезеңдері

Integrated Schematic National Programs for Economic Development

From 1947 to 2017, the Indian economy was premised on the concept of planning. This was carried through the Five Year Plans, developed, executed, and monitored by the Planning Commission (1951–2014) and the NITI Aayog (2015–2017). With the prime minister as the ex officio chairman, the commission has a nominated deputy chairman, who holds the rank of a cabinet minister. Montek Singh Ahluwalia is the last deputy chairman of the commission (resigned on 26 May 2014). The Twelfth Plan completed its term in March 2017. Prior to the Fourth Plan, the allocation of state resources was based on schematic patterns rather than a transparent and objective mechanism, which led to the adoption for the Gadgil formula in 1969. Revised versions of the formula have been used since then to determine the allocation of central assistance for state plans. The new government led by Narendra Modi, elected in 2014, announced the dissolution of the Planning Commission, and its replacement by a think tank called the NITI Aayog (an acronym for National Institution for Transforming India).

Five Year Plans (FYPs) are centralized and integrated national economic programs. Joseph Stalin implemented the first Five Year Plan in the Soviet Union in 1928. Most communist states and several capitalist countries subsequently have adopted them. China continues to use FYPs, although China renamed its Eleventh FYP, from 2006 to 2010, a guideline (guihua), rather than a plan (jihua), to signify the central government's more hands off approach to development. India launched its First FYP in 1951, immediately after independence, under the socialist influence of India's first prime minister, Jawaharlal Nehru.

The first Indian prime minister, Jawaharlal Nehru, presented the First Five Year Plan to the Parliament of India and needed urgent attention. The First Five year Plan was launched in 1951 which mainly focused in the development of the primary sector. The First Five Year Plan was based on the Harrod–Domar model with few modifications. This five years plan's president was Jawaharlal Nehru and Gulzarilal Nanda was the vice president. The motto of first five years plan was ' Development of agriculture' and the aim was to solve different problems that formed due to the partition of the nation, second world war. Rebuilding the country after independence was the vision of this plan. Another main target was to lay down the foundation for industry, agriculture development in the country and to provide affordable healthcare, education in low price to people. The total planned budget of 2069 crore (2378 crore later) was allocated to seven broad areas: irrigation and energy (27.2%), agriculture and community development (17.4%), transport and communications (24%), industry (8.6%), social services (16.6%), rehabilitation of landless farmers (4.1%), and for other sectors and services (2.5%). The most important feature of this phase was active role of state in all economic sectors. Such a role was justified at that time because immediately after independence, India was facing basic problems—deficiency of capital and low capacity to save. The target growth rate was 2.1% annual gross domestic product (GDP) growth; the achieved growth rate was 3.6% the net domestic product went up by 15%. The monsoon was good and there were relatively high crop yields, boosting exchange reserves and the per capita income, which increased by 8%. National income increased more than the per capita income due to rapid population growth. Many irrigation projects were initiated during this period, including the Bhakra, Hirakud and Damodar Valley dams. The World Health Organization (WHO), with the Indian government, addressed children's health and reduced infant mortality, indirectly contributing to population growth. At the end of the plan period in 1956, five Indian Institutes of Technology (IITs) were started as major technical institutions. The University Grants Commission (UGC) was set up to take care of funding and take measures to strengthen the higher education in the country. Contracts were signed to start five steel plants, which came into existence in the middle of the Second Five Year Plan. The plan was deemed successful for the government having outperformed growth projections.

The Second Plan focused on the development of the public sector and "rapid Industrialisation". The plan followed the Mahalanobis model, an economic development model developed by the Indian statistician Prasanta Chandra Mahalanobis in 1953. The plan attempted to determine the optimal allocation of investment between productive sectors in order to maximise long run economic growth. It used the prevalent state of the art techniques of operations research and optimization as well as the novel applications of statistical models developed at the Indian Statistical Institute. The plan assumed a closed economy in which the main trading activity would be centred on importing capital goods. From the Second Five Year Plan, there was a determined thrust towards substitution of basic and capital good industries. Hydroelectric power projects and five steel plants at Bhilai, Durgapur, and Rourkela were established with the help of the Soviet Union, Britain (the U. K) and West Germany respectively. Coal production was increased. More railway lines were added in the north east. The Tata Institute of Fundamental Research and Atomic Energy Commission of India were established as research institutes. In 1957, a talent search and scholarship program was begun to find talented young students to train for work in nuclear power. The total amount allocated under the Second Five Year Plan in India was Rs. 48 billion. This amount was allocated among various sectors: power and irrigation, social services, communications and transport, and miscellaneous. The second plan was a period of rising prices. The country also faced foreign exchange crisis. The rapid growth in population slowed down the growth in the per capita income. The target growth rate was 4.5% and the actual growth rate was 4.27%. The plan was criticized by classical liberal economist B. R. Shenoy who noted that the plan's "dependence on deficit financing to promote heavy industrialization was a recipe for trouble". Shenoy argued that state control of the economy would undermine a young democracy. India faced an external payments crisis in 1957, which is viewed as confirmation of Shenoy's argument.

The Eighth Plan could not take off in 1990 due to the fast changing economic situation at the centre and the years 1990–91 and 1991–92 were treated as Annual Plans. The Eighth Plan was finally launched in 1992 after the initiation of structural adjustment policies.

1989–91 was a period of economic instability in India and hence no Five Year Plan was implemented. Between 1990 and 1992, there were only Annual Plans. In 1991, India faced a crisis in foreign exchange (forex) reserves, left with reserves of only about 1 billion. Thus, under pressure, the country took the risk of reforming the socialist economy. P. V. Narasimha Rao was the ninth prime minister of the Republic of India and head of Congress Party, and led one of the most important administrations in India's modern history, overseeing a major economic transformation and several incidents affecting national security. At that time Dr. Manmohan Singh (later prime minister of India) launched India's free market reforms that brought the nearly bankrupt nation back from the edge. It was the beginning of liberalization, privatisation and globalization (LPG) in India. Modernization of industries was a major highlight of the Eighth Plan. Under this plan, the gradual opening of the Indian economy was undertaken to correct the burgeoning deficit and foreign debt. Meanwhile, India became a member of the World Trade Organization on 1 January 1995. The major objectives included, controlling population growth, poverty reduction, employment generation, strengthening the infrastructure, institutional building, tourism management, human resource development, involvement of Panchayati rajs, Nagar Palikas, NGOs, decentralisation and people's participation. Energy was given priority with 26.6% of the outlay. The target growth rate was 5.6% and the actual growth rate was 6.8%.

The Ninth Five Year Plan came after 50 years of Indian Independence. Atal Bihari Vajpayee was the prime minister of India during the Ninth Plan. The Ninth Plan tried primarily to use the latent and unexplored economic potential of the country to promote economic and social growth.

It was in the period of Manmohan Singh as the prime minister. It aimed to increase the enrolment in higher education of 18–23 years of age group by 2011–12. It focused on distant education, convergence of formal, non formal, distant and IT education institutions. Rapid and inclusive growth (poverty reduction). Emphasis on social sector and delivery of service therein. Empowerment through education and skill development. Reduction of gender inequality. Environmental sustainability. To increase the growth rate in agriculture, industry and services to 4%, 10% and 9% respectively. Reduce total fertility rate to 2.1. Provide clean drinking water for all by 2009. Increase agriculture growth to 4%.

With the Planning Commission dissolved, no more formal plans are made for the economy, but Five Year Defence Plans continue to be made. The latest would have been 2017–2022. However, there is no Thirteenth Five Year Plan.