The main objective of the 12th Five-Year Plan is
Faster, sustainable and more inclusive growth
Understanding India's Five-Year Plans and Objectives
India's Five-Year Plans were national economic development plans formulated by the Planning Commission (now replaced by NITI Aayog). Each plan had specific objectives and targets to guide the country's progress over a five-year period. The 12th Five-Year Plan was the last one implemented by the Planning Commission.
Main Objective of the 12th Five-Year Plan
The 12th Five-Year Plan covered the period from 2012 to 2017. The primary goal set for this plan was ambitious and aimed at addressing several critical aspects of India's development trajectory. Unlike previous plans that might have focused predominantly on just 'inclusive growth' or 'poverty reduction', the 12th Plan sought a more comprehensive approach.
The official document and policy discussions around the 12th Five-Year Plan clearly articulated its central theme. This theme combined multiple desirable outcomes for the Indian economy and society.
Analyzing the Options for the 12th Plan Objective
Let's look at the provided options in the context of the 12th Five-Year Plan's stated goals:
- Inclusive growth and poverty reductions: While inclusive growth and poverty reduction were important components and desired outcomes, this option might not capture the full scope of the main objective of the 12th Five-Year Plan.
- Inclusive and sustainable growth: Sustainable growth was indeed a key element introduced with greater emphasis in later plans, including the 12th. Inclusive growth remained important. However, this option still lacks a crucial dimension.
- Sustainable and inclusive growth to reduce unemployment: Reducing unemployment is a consequence of economic growth, especially inclusive growth. Sustainable and inclusive growth were core parts of the objective, but adding "to reduce unemployment" makes it sound like a sub-goal rather than the overarching primary objective formulation.
- Faster, sustainable and more inclusive growth: This option combines speed of growth ("Faster"), long-term viability and environmental consideration ("sustainable"), and ensuring benefits reach all sections of society ("more inclusive"). This phrase was the widely publicised and official statement of the main objective of the 12th Five-Year Plan.
Comparing the options against the known policy statements of the period, the objective "Faster, sustainable and more inclusive growth" most accurately reflects the stated main goal of the 12th Five-Year Plan.
Conclusion on the 12th Five-Year Plan Objective
The 12th Five-Year Plan aimed not just for growth, but for growth that was quicker than in the past, mindful of environmental and future needs, and beneficial to a wider section of the population, including the poor and marginalised. Therefore, the objective was articulated as "Faster, sustainable and more inclusive growth".
Revision Table: Five-Year Plan Objectives
| Plan Period | Key Objective(s) Highlighted |
|---|---|
| First Plan (1951-56) | Development of agriculture, irrigation, and power |
| Eleventh Plan (2007-12) | Faster and more inclusive growth |
| Twelfth Plan (2012-17) | Faster, sustainable and more inclusive growth |
Additional Information on Five-Year Plans and Growth
The concept of 'inclusive growth' gained prominence from the 11th Plan onwards, emphasizing that growth should benefit everyone, not just a few. 'Sustainable growth' became increasingly important in the context of environmental concerns and ensuring resources are available for future generations. The term 'Faster' indicated the ambition for a higher growth rate than achieved in previous periods.
The Planning Commission formulated these plans, setting targets for various sectors like agriculture, industry, services, social sectors (education, health), and infrastructure. While the Planning Commission was dissolved in 2014 and replaced by NITI Aayog, the era of Five-Year Plans significantly shaped India's development path.
Important Questions from Economic Planning-India
Which of the following has/have occurred in India after its liberalization of economic policies in 1991?
1. Share of agriculture in GDP increased enormously.
2. Share of India's exports in world trade increased.
3. FDI inflows increased.
4. India's foreign exchange reserves increased enormously.
Select the correct answer using the codes given below:
Which of the following are associated with ‘Planning’ in India?
(1) The Finance Commission
(2) The National Development Council
(3) The Union Ministry of Rural Development
(4) The Union Ministry of Urban Development
(5) The Parliament
Select the correct answer using the code given below.
Economic growth is usually coupled with:
Consider the following statements:
1. National Development Council is an organ of the Planning Commission.
2. The Economic and Social Planning is kept in the Concurrent List in the Constitution of India.
3. The Constitution of India prescribes that Panchayats should be assigned the task of preparation of plans for economic development and social justice.
Which of the statements given above is/are correct?
Match List I with List II and select the answer using the code given below the Lists:
List I (Five Year Plan) List II (Objective)
A. Fifth Five Year Plan 1. Towards Faster and More Inclusive Growth
B. Seventh Five Year Plan 2. Garibi Hatao (Removal of Poverty)
C. Ninth Five Year Plan 3. Food, Work and Productivity
D. Eleventh Five Year Plan 4. Growth with Social Justice and Equality
