The Success of the First Five Year Plan
The five-year plans were developed to boost the growth rate of both individuals as well as organizations. The first five-year plan was a major success within the nation. According to the growth analysis, the growth rate was predicted to be 2.1%, however, it reached about 3.6%, leading to a huge economic development that India had not seen for years. As a result, huge economic development was observed nationwide.
The primary sectors of the economy reflected by agriculture and irrigation were greatly improved. Also, better price stability was seen with lesser inflation. This resulted in better employment opportunities and a capital income rise. All the domains were covered by the first five-year plan, be it, infant mortality, science as well as technology.
By the time, the first five-year plan ended in the year 1956, the nation came to witness a sum of 5 total inaugurations represented by the technical institutions. The academia was encouraged and the institutions were funded by the UGC to achieve prosperity in higher education.