8th 5 Year Plan.pptx

7/27/2019 8th 5 Year Plan.pptx

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P. V. Narasimha Rao, ChairmanPranab Mukherjee, Deputy ChairmanManmohan Singh, MemberSharad Pawar, MemberBalram Jakhar, MemberH.R. Bhardwaj, MemberChitra Naik, MemberD. Swaminadhan, MemberV. Krishnamurthy, MemberC. Rangarajan, MemberJ. S. Bajaj, MemberJayant Patil, MemberS. Z. Qasim, MemberN. K. Sengupta, Secretary


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The Eighth Five Year Plan was launched with the backdrop of

widespread changes which had altered the international social andeconomic order.

The challenge was to effectively dovetail the market mechanism andplanning so that they are complementary to each other

To ensure that the infrastructure needed for economic developmentcontinued to grow during that transitional period.

It is a Plan for managing the change, for managing the transition fromcentrally planned economy to market-led economy without tearing our

socio-cultural fabric.


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The Eighth Plan aims at an average annual growth rate of 5.6percent and an average industrial growth rate of about 7.5 percent.

These growth targets are planned to be achieved with relative price

stability and a substantial improvement in the country's balance ofpayments position. It is envisaged that there will be a reasonabledegree of price stability and that the ratio of current account deficitto GDP will he maintained at about 1.6 percent.


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Generation of adequate employment to achieve near full

employment level by the turn of the century

Containment of population growth through active people'scooperation and an effective scheme of incentives and disincentives

Universalisation of elementary education and complete eradication ofilliteracy among the people in the age group of 15 to 35 years

Provision of safe drinking water and primary health care facilities,including immunisation, accessible to all the villages and the entirepopulation, and complete elimination of scavanging

Growth and diversification of agriculture to achieve self-sufficiency infood and generate surpluses for exports

Strengthening the infrastructure (energy, transport, communication,irrigation) in order to support the- growth process on a sustainable

basis


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Increase in employment level and decrease in poverty rate

6.78% GDP in an annual growth rate, which supersedes theexpected 5.6% GDP.

This has been supported by an average investment rate of 25 percent of GDP, thereby yielding an ICOR of 3.7.

Production of food increased to 176.22 million from 51 million whichwas a huge leap in comparison to the previous years.

10.1% was contributed by export earnings

There has been a significant step-up in the domestic savings rate.

Self sufficiency in agricultural production.

The rectification of certain flawed plans and policies were also doneunder this five year plan. During this period only India received a

coveted opportunity to become a member of the World TradeOrganization on January 1st 1995.


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Yielding an ICOR of 3.7, which is significantly less than the figure of 4.1that was assumed in the Eighth Plan calculations.

Poor Social Development Poverty Alleviation

Slow Banking Reforms

Inadequate Infrastructure investment

High Fiscal Deficit

Fall in the Share of states in the Total Plan

Insufficient participation of general public in general development


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Documents

8th 5 Year Plan.pptx