five-year plan

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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.
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five-year plan

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
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They are highly important in themselves for production and for employment." 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.
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).
The industrial growth turns out to be 2.3 percent in the First Five Year Plan (1951-56); 1.7 percent in the Second Five Year Plan (1956-61); 5.7 percent in the Third Five Year Plan (1961-66); 1.2 percent in Three Annual Planning years (1966-69); 1.4 percent in Fourth Five Year Plan (1969-74); 0.4 percent in Fifth five Year Plan (1974-79); 11.8 percent in Sixth Five Year Plan (1980-85); 10.9 percent in Seventh Five Year Plan (1985-90), 4.2 percent in Eight Five Year Plan (1992-97) and to 4.3 percent in Ninth Five Year Plan information on industrial backwardness and disparities has been recorded in case of Eastern, Western, Central and Bundelkhand regions in U.
In Ayub Khan Government, priority was given to agriculture sector development in the first and second five year plans. In Z.A Bhutto Government five year planning was discarded.
It was the same Planning Commission which produced comprehensive documents of first and second five year plans in the decade of 1960s.

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