INDIAN ECONOMY

Five Year Plans in India

Five Year Plan	Duration	Focus	Highlights of the plan period
I	1951 –  1956	Agriculture	Rapid population growth Bhakra and Hirakud dams Five IIT’s established UGC established
II	1956 –  1961	Industrialization Socialism	Bhilai, Durgapur, Rourkela steel mills Atomic Energy Commission established Tata Institute of Fundamental Research
III	1961 –  1966	Defence Price stabilization	India-China war 1962 India-Pakistan war 1965 Panchayat elections started State electricity and education boards formed
IV	1969 –  1974	Growth Stability Self-reliance	India-Pakistan war 1971 Green Revolution Bank nationalization Pokhran nuclear test
V	1974 –  1978	Poverty alleviation Self-reliance	Govt. enters power generation and transmission
VI	1980 –  1985	Industrialization Information Tech.	National highways launched Price controls eliminated Family planning expanded
VII	1985 –  1989	Increasing employment Growth Modernisation
			No FYP 1989-1992. Annual plans 1990-1992 Balance of payments crisis 1991 Launch of economic reforms under P.V. Narasimha Rao
VIII	1992 –  1997	Human development Industrial modernisation Population control	India joins WTO Jan 1995
IX	1997 –  2002	Employment Food security Continued liberalization
X	2002 –  2007	Education Health Environment	GDP growth over 8%
XI	2007 –  2012	Education Health Environment Infrastructure	Currently ongoing

Land Systems and Reforms in India

Land Systems

1. Zamindari System
   • Government collect land tax through the intermediary of a zamindar
   • Land assigned to zamindar who bid the highest tax rate. Farmers lose ownership of land
   • Farmers pay tax to zamindar in cash
   • No remissions granted due to lost produce (due to weather etc)
   • Zamindari system implemented primarily in North India, especially Bengal, U.P., and Central Provinces and Berar
   • Attributed as a consequence of the Permanent Settlement under Lord Cornwallis
2. Ryotwari System
   • Government collects land tax directly from farmers (called “ryots”)
   • Land belongs to farmer, farmer pays fixed amount to government
   • Remissions granted lost produce (due to weather etc)
   • Ryotwari system implemented in Madras, Bombay, Assam and Burma
   • Attributed to Sir Thomas Munro, Governor of Madras

Land Reforms

1. Land Reforms Act 1955
   • All share croppers to have permanent use rights
   • Such rights to be inheritable
   • Croppers to pay legal share of crop to landlord
2. Land reforms in Kerala
   • Introduced Land Reforms Ordinance in 1957
   • Set absolute ceiling on land ownership. Tenants and hut dwellers receive claim on excess land
   • Fixity of tenure and protection from eviction
3. Land reforms in West Bengal
   • Initiated Operation Barga in 1978
   • Registered sharecroppers (”bargadars”) and educated them about cultivation rights
   • Bargadar rights made hereditary. Bargadars to receive fair share of crop (50-75%)
   • Land Ceiling Act: redistribution of ceiling-surplus land