Planning for Growth, Redistribution and Self-Reliance in the Fifth Five-Year Plan

An average annual growth rate of gross domestic product of 55 per cent, self-reliance and redistribution of consumption for the removal of poverty over the Plan period were the three accepted objectives of the Fifth Five-Year Plan as enunciated in the Approach to the Plan. The details of the planning model underlying the Approach document were supplied in a Technical Note that was circulated to the panel of economists in April 1973. The same planning model (with a change in the price base from 1971- 72 to 1972-73) is said to form the basis of the Draft Fifth Five-Year Plan released recently. The objective of this paper, the first part of which was published last week, is to evaluate the planning model under- lying the Approach document.