Achievements of planned development

♤ Higher rate of growth: In the pre-plan era, India was stuck in Low equilibrium trap. Later the growth rate improved, but still lagged behind the global average and was derided as ‘Hindu growth rate’. Post LPG reforms, the growth rate improved massively. In the period between 2002 - 2014, it also witnessed many years of double digit growth.

♤ Increase in national income and per capita income: Today India is 3rd largest economy in PPP terms. Also the per capita income has seen massive jump over the decades.

♤ Development of Economic Infrastructure: Five-year plans laid the foundation for development of economic infrastructure which include transportation, power generation, communication etc.

♤ Social Infrastructure: Average life expectancy for both male and female has improved substantially. Infant Mortality Rate and Maternal Mortality rate has dropped significantly. India has been successful in eliminating debilitating disease like Polio and small pox.

♤ Self-sustainability in agriculture: India faced severe food scarcity in 1960s. It has to depend upon foreign food aid. This forced government to usher in Green revolution and Operation Flood. Currently, India produces surplus food grains.

♤ Savings and Interest: The saving rates were paltry 8-9% of GDP in 1950-51. Currently it is more 30% of GDP.

♤ In addition to this, India became a self- sufficient economy, hot destination for foreign investment, and witnessed development of basic and capital goods industries.