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Q. Need of Long-term Plans: As the twelfth five-year plan ends in 2017, discuss the need of long-term perspective plans in the contemporary times.
May 23, 2016 Related to : GS paper-3 and 2.

Ans :

Introduction-

Government’s policy think tank Niti Aayog is planning to replace the five-year plans with that of 15-year long term perspective plan to suit the demands of contemporary times. The new plans will be in line with the global trend and India’s ambition to retain its status as the world’s growth engine.

Background-

  • At the time of Independence, the socio-economic status of the country was very weak and leaders of that time felt the need for State-led planned industrialisation and development. Hence, India was adopted Soviet styled the five-year planned model of development, immediately after Independence.

  • In recent years, however, the five-year plan model came under increased scrutiny, with experts questioning the system’s role in a market-economy model where private enterprises are the primary growth engines.

  • Hence From next year Government may replace the six-decades-old five-year plan model with that of a 15-year roadmap.

Why we need long-term perspective plans-

  • Generally Plans, by definition, is a long-term exercise. Strategy documents of large transnational corporations set out milestones years in advance. Contemporary strategy-making in the corporate world is replete with examples where companies set out 20-year targets and the broad approach to achieve the goals.

  • Policy making of government should be also broad based long-term agenda. Long-term plans will have more flexibility and resilience, compared to as that of shorter plans. And It will help to manage key resources like energy, minerals effectively.

  • In recent years annual budget has become an instrument to announce policies rather than an annual accounting exercise. Hence a long term perspective plan, if executed well, can be a policy-making platform that will perfectly complement the annual budget.

Conclusion-

By next year (2017), the Twelfth Five-year plan will end and it is right time to introduce the Five-year plans to keep face of development on global lines. Through this can meet its social objectives by enhancing its economic development. In this direction the idea to introduce the long-term perspective plans is a welcome move.


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