India's journey as an independent nation began with a strong emphasis on planned economic development. The First Five-Year Plan, launched in 1951 and concluding in 1956, laid the foundation for this development strategy. Understanding the context of post-independence India is key to grasping the priorities of this initial plan.
Following the partition and the challenges of nation-building, India faced critical issues such as food shortages, poverty, and the need to rebuild its economic structure. The First Five-Year Plan was designed to address these immediate concerns and set the country on a path towards self-sufficiency and growth. The core objectives included:
Given the predominantly agrarian nature of the Indian economy at the time and the pressing need for food security, the primary focus of India's First Five-Year Plan (1951-56) was directed towards the Agriculture and Irrigation sectors. Key reasons for this focus included:
While other sectors like industry and infrastructure were acknowledged as important for long-term growth, the immediate and critical needs of agriculture and irrigation required the largest share of resources and attention during this foundational period.
As per the Union Budget 2021-22, the government plans to continue on the path of fiscal consolidation, achieving a fiscal deficit level below 4.5% of GDP by ______.
As per the Economic Survey 2021, in which of the following states did the proportion of households that had health insurance decrease by 12% from 2015-16 to 2019-20?
As per Economic Survey 2020-2021, India’s real GDP is estimated to grow by ______ in financial year 2021-22.
As per the Economic Survey of India 2020-21, India is expected to have a Current Account Surplus of ______ GDP in FY21.