Introduction

In this article you will learn about " Common Goals Of Five Year Plan" that is Growth, Modernisation, Self-reliance, Equity in simple language so that you can understand it. All the goals cannot be given equal importance in all the plans,different goals are emphasised in different plans in India. But first of all you should know the concept of Five Year Plan because it will help you in understanding the further topics clearly. 

 Five Year Plans 

The five year plans have been concerned with the removal of economic backwardness of the country and to make India a developed economy. This plans have also taken care to ensure that the weaker sections of the population benefit from the economic progress of the country. The first Five Year Plan was launched for a period starting from 1st April, 1951 and ending on 31st March, 1956. Each Five Year Plan listed the basic Goals of India's development, which served as the guiding principles of Indian planning. 



Four Basic Goals Of Five Year Plans



1. Growth

The stagnation during the British rule forced the planners to make Economic Growth as the first and the foremost objective of Indian plans. 
  • Growth refers to increase in the country's capacity to produce the output of goods and services within the country. 
  • A good indicator of economic growth, in the language of economics, is steady increases in the Gross Domestic Product (GDP). 
  • GDP refers to market value of all the final goods and services produced in the country during a period of one year. Increase in GDP Or availability of goods and services enables people to enjoy a more rich and varied life. 
  • The contribution of each sector makes up the structural composition of the country. 

2. Modernisation

Indian planners have always recognised the need for modernisation of society to raise the standard of living of people. Modernisation includes :
  • Adoption of New Technology:- Modernisation aims to increase the production of goods and services through use of new technology. 
  • Change in Social Outlook:- Modernisation also requires change in social outlook, such as gender empowerment or providing equal rights to women. A society will be more civilised and prosperous if it makes use of the talents of women in the work place. 

3. Self-reliance

The third major objective is to make the economy self- reliant. 
  • Self-reliance under Indian conditions means overcoming the need of external assistance. In other words, it means to have development through domestic resources. 
  • To promote economic growth and modernisation, the five year plans stressed on the use of own resources, in order to reduce our dependence on foreign countries. 
  • The policy of self-reliance was considered a necessity because of two reasons:
  1. To reduce foreign dependence: As India was recently freed from foreign control, it is necessary to reduce our dependence on foreign countries, especially for food. 
  2. To avoid foreign interference: It was feared that dependence on imported food supplies, foreign technology and foreign capital may increase foreign interference in the policies of our country. 

4. Equity

The objective of growth, modernisation and self-reliance, by themselves, may not improve the kind of life, which people are living. 
  • So, it is important to ensure that benefits of economic prosperity are availed by all sections ( rich as well as poor) of the economy. 
  • In addition to the objectives of growth, modernisation and self-reliance, equity is also important. 
  • According to Equity, every Indian should be able to meet his or her basic needs( food, house, education and health care) and inequality in the distribution of wealth should be reduced. 
  • In simple words, Equity aims to raise the standard of living of all people and promote social justice.