India is a vast country with multiple problems faced by its population. The British ruled the country for nearly two centuries and exploited its resources for their benefit leaving the country reeling under absolute poverty. When the British left India in 1947 there was nothing to be proud of or be happy except for the freedom. The problems were many before the Indian government.
Besides mass poverty there was the problem of food shortage and inflation. Illiteracy, lack of health care, lack of infrastructure, etc. were other serious problems facing the country. As a long term strategy, planning for economic development was the answer to solve these problems.
Economic planning is a process which involves the following steps:
To make sure that everything is running smoothly and to rectify mistakes if any or to modify the style of working to accommodate any change, periodic review must be done till the final achievement is realized.
India adopted a system of five yearly planning to address its various socio-economic problems. Indian government adopted five year plan starting from first year plan in 1951 development. The idea was to make a list of important problems to be solved keeping in view the given resources and the capacity to arrange the resources. Then make a review after five years of what has been done and rectify the mistakes accordingly in the next five year plan period and so on.
Objectives of Planning in India