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The Third Five Year Plan from 1961-1966 aimed to increase national income over 5% annually, make agriculture a priority to achieve self-sufficiency, and expand basic industries. However, the wars with China and Pakistan, as well as a major drought in 1965, caused the plan to fail in meeting most of its targets. The only sectors that achieved their targets were transport, communication, and services. Agricultural output declined significantly during this period. Despite challenges, some progress was made through the construction of dams and plants, and by laying the foundations for the Green Revolution.
The Third Five Year Plan from 1961-1966 aimed to increase national income over 5% annually, make agriculture a priority to achieve self-sufficiency, and expand basic industries. However, the wars with China and Pakistan, as well as a major drought in 1965, caused the plan to fail in meeting most of its targets. The only sectors that achieved their targets were transport, communication, and services. Agricultural output declined significantly during this period. Despite challenges, some progress was made through the construction of dams and plants, and by laying the foundations for the Green Revolution.
The Third Five Year Plan from 1961-1966 aimed to increase national income over 5% annually, make agriculture a priority to achieve self-sufficiency, and expand basic industries. However, the wars with China and Pakistan, as well as a major drought in 1965, caused the plan to fail in meeting most of its targets. The only sectors that achieved their targets were transport, communication, and services. Agricultural output declined significantly during this period. Despite challenges, some progress was made through the construction of dams and plants, and by laying the foundations for the Green Revolution.
An increase in national income of more than 5% annually
Agriculture was given top priority to support self sufficiency Expansion of basic industries, the aim being to meet the requirements arising from increased industrialisation in the previous two 5 year plans Utilising the countrys manpower to reduce unemployment Reducing wealth and income disparities First phase of 15 year long term growth
GROWTH MODEL
Demand side growth
Rapid growth with self reliance Agriculture Small and Medium scale industries Generate employment Economic benefits to more people
POLICY CHANGES
Shift of focus from heavy industries to agriculture and
small scale industries States were given more responsibilities Panchayat Raj elections for Grass root level democracy State Transportation, electricity and education boards established Construction of Dams continued
SIGNIFICANT CHANGES IN THE ECONOMICAL
ENVIRONMENT
China India War of 1962
Pakistan India war of 1965 Wartime efforts Drought in 1965 High Inflation and efforts on price stabilization Start of Green revolution in 1965
CHALLENGES AND ACHIEVEMENTS
Wars with China and Pakistan
Drought Plan is a miserable failure Plan Target met only in Transport, communication and service sectors only Agriculture output fell from 82 MT to 72 MT
CHALLENGES AND ACHIEVEMENTS
(CONTINUED)
Industrial output fell
Inflation of food and consumer article prices Forced to declare Plan Holidays Construction of Dams, Cement and Fertilizer plants Punjab became a wheat basket Green revolution started
2018 Near East and North Africa Regional Overview of Food Security and Nutrition: Rural Transformation - Key for Sustainable Development in the Near East and North Africa