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What is Growth, Investment, and Savings in Five Year Plans about?

This chapter visits major macroeconomic parameters, such as gross domestic product, savings, and investment, and studies their movement, especially the peaks and troughs in the six decades of planning, 1951–2011. The growth performance of the economy is assessed by comparing the realized growth rate with the target set in the Five Year Plans. It identifies the periods when the growth rate failed to meet the target, and pinpoints the reasons behind the shortfall. The growth rates are measured for agriculture, industry, and services sectors, and the structural changes in the economy are explored. Tracing the course of investment in the public and private sector in the mixed-economy framework, it shows how the share of these two sectors in total investment and domestic product altered over time. Finally, it unfolds the nexus between savings, investment, and economic growth that is evident in different phases of the Plan periods.

Author

K. L. Datta

Publisher

Oxford University Press

Published

2021

Language

EN