INDIAN ECONOMICS 4
#1

NITI Aayog

*NITI Aayog - National Institution for Transforming India replaced Planning Commission of India from 1st January 2015. 
*Specialised wing of NITI Aayog comprising of representatives from every State and Ministry to serve as a permanent platform for national collaboration 
Ans : ‘TEAM INDIA’
*The Vice Chairperson and CEO of NITI Aayog will be appointed by the Prime Miniser.
*First meeting of the Governing council of NITI Aayog was held on 
Ans : 8th February 2015
*Governing council comprise of Chief Ministers of all the states and Lieutenant Gov ernors of Union Territories.
*The suggestion to replace Planning Commission to a control mission was base< on the reports of Independent Evaluation Office Director General - Ajay Chhibber
*Ex-officio members of NITI Aayog an Central Ministers.
*Present Ex-Officio members 
Ans : Rajnath Singh, Arun Jaitley, Suresh Prabhu, Radha Mohan Singh.
*Special Invites
Ans : Nithin Gadkari, Smrithi Irani, Thawar chand Gallot
*Full time member are
Ans : Bibek Debroi. V.K. Saraswath & Ramesh Chand 
Chairman of NITI Aayog
Ans :  Narendra Modi (Prime Minister of India)
*Vice Chairperson
Ans : Aravind Panagariya
*First CEO
Ans : Sindhushree Khullar 
*Present CEO
Ans : Amithabh Kant (His famous book : Branding, India: An incredible story) 


Structure    Niti Aayog     Planning Commission)
*Chairman -Chairman (Prime Minister) -Chairman (Prime Minister)
*Administration-Governing Council (Prime Minister,Chief Minister,Lt.Governors,Members)-National Development Council (NDC) (Prime Minister,Cabinet Minister,Chief Ministers,State Finance Minister)
*Vice Chairman -Vice Chairman-Deputy Chairman
*Vice Chairman appointed by-Prime Minister-Cabinet
*Ex-Officio Members -Cabinet Ministers-Minister of planning
*Office Management -C.E.O-Secretary of Planning
*The objective incorporated in the second five year plan was described by the congress at the Avadi Session in 1955 as the ‘Socialistic Pattern of Society’.
*The second industrial policy was declared in 1956.
*The aim of second five year plan was to reduce the rate of unemployment and increase national income.
*Target growth rate was 4.5%.
*Actual growth rate of second five year plan was 4.27%.


Third Five Year Plan (1961-66)

*Third plan stressed on agriculture and industry..
*Many primary schools were started in rural areas.
*The main goal of third five year plan was the establishment of self reliance and self generating economy.
*The third five year plan stressed and improvement in the production of wheat, Punjab began producing an abundance of wheat.
*Many cement and fertilizer plants were built during the period of third five year plan.
*State electricity boards and state secondary education boards are formed during the period of third five year plan.
*Target growth rate was 5.6%.
*Growth rate of third five year plan was only 2.4%
*The third five year plan was a failure due to the Chinese aggression in 1962 and the conflict with Pakistan in 1965, the approach of the plan was shifted from development to defence and development.
*National Dairy Development Board was established in 1965.
*A plan holiday was declared during 1966 
Ans : 1969. Three annual plans were declared during this period.


Note the point
*During Third Five Year Plan Green revolution was started.


Fouth Five Year Plan (1969-1974)
*‘Growth with stability’ and progressive achievements of self reliance were the principal objectives of fourth five year plan.
*This plan gives more importance to agriculture and industry.
*Prime Minister Indira Gandhi nationalised 14 banks in 1969 during fourth five year plan.
*Operation flood was launched in 1970 by National Dairy Development Board.
*Indo-Pak war of 1971 was during this five year plan.
*First ground nuclear test conducted on 18th May 1974 was code named as Smiling Buddha.
*The target growth rate was 5.7%.
*The plan achieved 3.3% growth rate.


Key note
*Fourth Five Year Plan adopted Gadgil model of strategy growth with stability. 
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