Q.Perspective planning and Annual Planning

The Planning Commission was set up in March 1950 by a Cabinet Resolution, with the Prime Minister as its ex-officio Chairman, to assess India's resources and frame Five Year Plans that fixed development priorities and allocated resources between the Centre and the states. Twelve Five Year Plans were implemented between 1951 and 2017, each building on the shortfalls and achievements of the one before it: the Second Plan (1956-61) adopted the Mahalanobis strategy of prioritising heavy and basic industries; plans from the late 1960s onward emphasised food self-sufficiency through the Green Revolution; and plans after the 1991 economic reforms …