Five-Year Plans were laid to rest by the Narendra Modi-led NDA government in 2015.

Hence, the 12th five-year plan is considered the last five-year plan of India. The
decades-old Five-Year Plans was replaced by a three-year action plan, which will be
part of a seven-year strategy paper and a 15-year vision document. The Niti Aayog has
replaced the Planning Commission in the Modi Cabinet and launched three-year action
plans from April 1, 2017, onwards.

First Five Year Plan:------It was launched for the duration of 1951 to 1956, under the
leadership of Jawaharlal Nehru—-based on the Harrod-Domar model with a few
modifications—--Its main focus was on the agricultural development of the
country.----This plan was successful and achieved a growth rate of 3.6% (more than
its target of 2.1%)----At the end of this plan, five IITs were set up in the country.

Second Five Year Plan:----made for the duration of 1956 to 1961, under the leadership
of Jawaharlal Nehru—--based on the P.C. Mahalanobis Model made in the year 1953.
—--Its main focus was on the industrial development of the country.----This plan lags
behind its target growth rate of 4.5% and achieved a growth rate of 4.27%. —-this
plan was criticized by many experts and as a result, India faced a payment crisis in
the year 1957

Third Five Year Plan:------It was made for the duration of 1961 to 1966, under the
leadership of Jawaharlal Nehru. —-------This plan is also called ‘Gadgil Yojna’, after the
Deputy Chairman of Planning Commission D.R. Gadgil.-----The main target of this plan
was to make the economy independent. The stress was laid on agriculture and the
improvement in the production of wheat. —------the execution of this plan, India was
engaged in two wars: (1) the Sino-India war of 1962 and (2) the Indo-Pakistani war of
1965. These wars exposed the weakness in our economy and shifted the focus to the
defence industry, the Indian Army, and the stabilization of the price (India witnessed
inflation). —-The plan was a flop due to wars and drought. The target growth was 5.6%
while the achieved growth was 2.4%.
Plan Holidays:----Due to the failure of the previous plan, the government announced
three annual plans called Plan Holidays from 1966 to 1969.----The main reason
behind the plan holidays was the Indo-Pakistani war and the Sino-India war, leading to
the failure of the third Five Year Plan.----------annual plans were made and equal priority
was given to agriculture, its allied sectors and the industry sector.-------To increase the
exports in the country, the government declared devaluation of the rupee.

Fourth Five Year Plan:----Its duration 1969 to 1974, under the leadership of Indira
Gandhi—-There were two main objectives of this plan i.e. growth with stability and
progressive achievement of self-reliance.---- During this time, 14 major Indian banks
were nationalized and the Green Revolution was started. Indo-Pakistani War of 1971
and the Bangladesh Liberation War took place.---Implementation of Family Planning
Programmes was amongst major targets of the Plan—-This plan failed and could
achieve a growth rate of 3.3% only against the target of 5.7%.

6. Fifth Five Year Plan:----Its duration was 1974 to 1978.----This plan focussed on Garibi
Hatao, employment, justice, agricultural production and defence.----The Electricity
Supply Act was amended in 1975, a Twenty-point program was launched in 1975, the
Minimum Needs Programme (MNP) and the Indian National Highway System was
introduced. —-Overall this plan was successful which achieved a growth of 4.8%
against the target of 4.4%.----This plan was terminated in 1978 by the newly elected
Moraji Desai government.

7. Rolling Plan:-----After the termination of the fifth Five Year Plan, the Rolling Plan
came into effect from 1978 to 1990—-In 1980, Congress rejected the Rolling Plan and a
new sixth Five Year Plan was introduced.----Three plans were introduced under the
Rolling plan: (1) For the budget of the present year (2) this plan was for a fixed number
of years-- 3,4 or 5 (3) Perspective plan for long terms-- 10, 15 or 20 years—-The plan
has several advantages as the targets could be mended and projects, allocations, etc.
were variable to the country's economy. This means that if the targets can be amended
each year, it would be difficult to achieve the targets and will result in destabilization in
the Indian economy.

8. Sixth Five Year Plan:-----Its duration was from 1980 to 1985, under the leadership of
Indira Gandhi—-The basic objective of this plan was economic liberalization by
eradicating poverty and achieving technological self-reliance.------It was based on
investment Yojna, infrastructural changing, and trend to the growth model.-----Its growth
target was 5.2% but it achieved a 5.7% growth.

9. Seventh Five Year Plan:-----duration was from 1985 to 1990, under the leadership of
Rajiv Gandhi. —--The objectives of this plan include the establishment of a
self-sufficient economy, opportunities for productive employment, and up-gradation of
technology.-----The Plan aimed at accelerating food grain production, increasing
employment opportunities & raising productivity with a focus on ‘food, work &
productivity—--For the first time, the private sector got priority over the public
sector.-----Its growth target was 5.0% but it achieved 6.01%.

10. Annual Plans:-----Eighth Five Year Plan could not take place due to the volatile
political situation at the centre.-----Two annual programmes were formed for the year
1990-91 & 1991-92.

11. Eighth Five Year Plan:-----Its duration was from 1992 to 1997, under the leadership
of P.V. Narasimha Rao. —---In this plan, the top priority was given to the development of
human resources i.e. employment, education, and public health.-----During this plan,
Narasimha Rao Govt. launched the New Economic Policy of India.-----Some of the main
economic outcomes during the eighth plan period were rapid economic growth (highest
annual growth rate so far – 6.8 %), high growth of agriculture and allied sector, and
manufacturing sector, growth in exports and imports, improvement in trade and current
account deficit. A high growth rate was achieved even though the share of the public
sector in total investment had declined considerably to about 34 %-----This plan was
successful and got an annual growth rate of 6.8% against the target of 5.6%.

12. Ninth Five Year Plan:---------Its duration was from 1997 to 2002, under the
leadership of Atal Bihari Vajpayee. —-------The main focus of this plan was “Growth with
Social Justice and Equality”.--------It was launched in the 50th year of independence of
India.-----This plan failed to achieve the growth target of 6.5% and achieved a growth
rate of 5.6%.

13. Tenth Five Year Plan:----Its duration was from 2002 to 2007, under the leadership of
Atal Bihari Vajpayee and Manmohan Singh. —-This plan aimed to double the Per
Capita Income of India in the next 10 years.----It also aimed to reduce the poverty ratio
to 15% by 2012.----Its growth target was 8.0% but it achieved only 7.6%.

14. Eleventh Five Year Plan:-----Its duration was from 2007 to 2012, under the
leadership of Manmohan Singh. —-It was prepared by the C. Rangarajan.----Its main
theme was “rapid and more inclusive growth”.=------It achieved a growth rate of 8%
against a target of 9% growth.

15. Twelfth Five Year Plan:--------Its duration is from 2012 to 2017, under the leadership
of Manmohan Singh.---main theme is “Faster, More Inclusive and Sustainable
Growth”.---Its growth rate target was 8%.
For a long time, there had been a feeling that for a country as diverse and big as India,
centralised planning could not work beyond a point due to its one-size-fits-all approach.
Therefore, the NDA government has dissolved the Planning Commission which was
replaced by the NITI Aayog. Thus, there was no thirteen Five Year Plan, however, the
five-year defense plan was made. It is important to note that the documents of the NITI
Aayog have no financial role. They are only policy guide maps for the government.

The three-year action plan only provides a broad roadmap to the government and does
not outline any schemes or allocations as it has no financial powers. Since it doesn't
require approval by the Union Cabinet, its recommendations are not binding on the
government.