five-year plan

(redirected from Second Five Year Plan)
Also found in: Dictionary, Encyclopedia.
Related to Second Five Year Plan: 5 Year Plans

Five-Year Plan

A multiyear plan for economic development prepared by a government. For example, a five-year plan may state the methods and the amount of development that should be experienced by the industrial sector by the end of the plan. Five-year plans were introduced in the Soviet Union and were adopted by most other 20th-century communist states. For that reason, the term is associated with command economies.

five-year plan

see NATIONAL PLAN.
Mentioned in ?
References in periodicals archive ?
Art historians say there were five eras of Soviet art: The Bolshevik Era (1917-1921), the New Economic Policy (1921-1927), the First and Second Five Year Plans (1928-1937), the Great Patriotic War (1939-1945), and the Cold War (1946-1984).
Pakistan, Government of (1960) The Second Five Year Plan 1960-65.
Pakistan, Government of (1966) The Final Evaluation of the Second Five Year Plan 1960-65.
His contributions were also important in the planning and implementation of our second five year plan now underway, which extends our technology platform into expected high growth, high margin areas of hematology and molecular diagnostics, including high value, high reimbursement blood-based tests for cancer and sexually transmitted diseases," stated Cesar Garcia, Chairman of the Board and Chief Executive Officer of IRIS International.
These observations made by Jawaharlal Nehru laid the foundation of Second Five Year Plan which stated: "The process of reducing inequalities is a two-fold one.
The relative roles of the public and private sectors in a developing country have been outlined in the Second Five Year Plan in the following words : " In a growing economy which gets increasingly diversified, there is scope for both the public and the private sectors to expand simultaneously, but it is inevitable, if development is to proceed at the pace envisaged and to contribute effectively to the attainment of the larger social ends in view, that the public sector must grow up not only absolutely but also relatively to the private sector".
The framework of the Second Five Year Plan stated: "The strategy requires all-out efforts for the maximum utilization of capacity in existing industries and for the development of additional production in the capital light small sector of industries.
For example, India's Second Five Year Plan (1956-61) was an attempt in planned industrialization using internal economies of scale rather than trade.
Table 1: Industrial Growth in Historical Perspective Plan Period Growth percent Second Five Year Plan 1951-56 2.

Full browser ?