Question

Explain in detail the 10th Five Year Plan of India.

Answer 1

The Tenth Five Year Plan India (2002-2007) aims to transform the country into the fastest growing economy of the world and targets an annual economic growth of 10%. This was decided after India registered a 7% GDP growth consistently over the last decade.
This GDP growth of 7% is much higher than the world's average GDP growth rate. Thus, the Planning Commission of India sought to stretch the limit and set targets which would propel India to the super league of industrially developed countries.
The main objectives of the Tenth Five-Year Plan: Attain 8% GDP growth per year. Reduction of poverty rate by 5% by 2007. Providing gainful and high-quality employment at least to the addition to the labour force.

In a nutshell, the Tenth Five Year Plan India envisages -

• More investor friendly flexible economic reforms
• Creation of congenial investment environment
• Encourage private sector involvement
• Setting up state-of-the-art infrastructure
• Capacity building in industry
• Corporate transparency
• Mobilizing and optimizing all financial resources
• Implementation of friendly industrial policy instruments