The document provides an overview of India's economic planning process through Five-Year Plans since its independence in 1951. Key points:
- India adopted a Soviet-style system of centralized economic planning through Five-Year Plans to promote development goals like GDP growth and self-sufficiency.
- The first few plans focused on agriculture and food security while later plans emphasized industry and technology. Most plans saw growth exceed targets except 3rd and 12th plans.
- Economic liberalization began in the 8th Plan, replacing the planning system. The NITI Aayog now oversees development goals through cooperation with states rather than centrally-planned five year targets.