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April 5, 2024 2425 0
Open Economy: A country engages in international trade and economic transactions with other nations.
Closed Economy: A country relies on its domestic production and consumption without significant interaction with foreign markets. |
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FYP | Target Growth | Actual Growth | Description |
1st Five Year Plan (1951-56) | 2.1 | 3.6 |
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2nd Five Year Plan (1956-61) | 4.5 | 4.3 |
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3rd Five Year Plan (1961-66) | 5.6 | 2.84% |
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Three Annual Plans (1966-69) |
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4th Five Year Plan (1969-74) | 5.7 | 3.3 |
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5th Five Year Plan (1974-79) | 4.4 | 4.8 |
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Rolling Plan (1978-80) |
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6th Five Year Plan (1980-85) | 5.2 | 5.66 |
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7th Five Year Plan (1985-90) | 5 | 6.1 |
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Annual Plans (1990-92) |
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8th Five Year Plan (1992-97) | 5.6 | 6.8 |
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9th Five Year Plan (1997-2002) | 8 | 7.6 |
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10th Five Year Plan (2002-07) | 8 | 7.6 |
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11th Five Year Plan (2007-12) | 9 | 8 |
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12th Five Year Plan (2012-17) | 8.2 | 6.9 |
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Planning after the planning commission: Document by NITI Aayog provides 3 fold division of the planning process according to time frame and objectives
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