International Journal of Contemporary Research in Multidisciplinary

Abstract:

This study explores the evolution of economic planning in India, tracing its roots from global developments to indigenous efforts before and after independence. The concept of economic planning originated in Russia after the 1917 October Revolution, where socialist policies and Five-Year Plans enabled rapid industrial growth and became a model for other nations. India, under colonial rule, experienced severe economic decline due to exploitative British policies, destruction of native industries, and commercialization of agriculture. Thinkers like Dadabhai Naoroji and R.C. Dutt highlighted these issues, laying the foundation for economic nationalism. In the early 20th century, Indian leaders and intellectuals advocated for systematic economic planning. The Indian National Congress formed the National Planning Committee in 1938 under Jawaharlal Nehru, aiming to raise living standards and eradicate poverty through integrated industrial and agricultural development. Though delayed by World War II, this initiative marked a milestone in India’s economic history. Post-1940s, various plans like the Bombay Plan (1944) by industrialists, Gandhi Plan (1944) emphasizing village industries, and People’s Plan (1944) by M.N. Roy prioritized different sectors and ideologies. These debates shaped India’s economic discourse before independence. After 1947, India faced poverty, unemployment, partition challenges, and industrial stagnation. Jawaharlal Nehru’s government established the Planning Commission in 1950 to chart the nation’s economic path, adopting a mixed economy model.

The National Development Council (1952) was formed to ensure state participation in national development. This article highlights how pre- and post-independence economic plans reflected diverse visions, from industrialization to rural self-sufficiency. It underscores how India’s economic planning tradition was shaped by colonial experiences, nationalist aspirations, and international influences, setting the foundation for Five-Year Plans aimed at achieving balanced, inclusive national development.

Keywords:

Five-year Plans, Gandhi Plan, Visveswaraya Plan, Bombay Plan, Sarvodaya Plan, Peoples Plan and Planning Commission.

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