Abstract
India uses a system of five-year plans to ensure the economic growth of the country. The 12th five-year plan was implemented from 2013 to 2018. However, within each of the plans, there are both achievements and failures, which can be assessed only after its implementation is completed. This study has attempted to identify the major achievements and failures of India’s 12th five-year plan. For the assessment, data from primary and secondary sources were used, which later became the basis for conclusions. Based on the data obtained, recommendations for improving planning were also formed, which can be implemented in future plans. Additionally, directions for future research are identified, which include the need to consider more different sectors of the economy. At present, the limited number of impacts considered is the main limitation of the study. The study contains such sections as an introduction, literature review, methodology, results, discussion, recommendations, limitations, conclusion, and reference list.
Introduction
India uses a system of five-year plans to ensure the economic growth of the country. The 12th five-year plan was implemented from 2012 to 2017 (Planning Commission, 2013). Thus, it is necessary to evaluate the main strengths and weaknesses of the 12th plan, which can be taken into account for better planning in the future. The research methodology is to collect qualitative data from primary and secondary sources, including academic articles, books, government reports, and economic indicators. The most important findings are that the 12th plan has led to new approaches to public health, greater self-government, better financing of the tourism sector, and overcoming the food crisis. Although the plan did not achieve fundamental socio-economic benefits, it laid the foundations for future growth and development.
Literature Review
Within the framework of the 12th five-year plan in India, a number of changes have been outlined in the socio-economic sphere, which can become the basis for the growth of the country’s economy. Verma et al. (2014) note that one of the most important achievements of the 12th five-year plan is the development of a public health approach. Additionally, the 12th five-year plan aims to transform the country’s governance paradigm with a focus on expanding self-government (Daugherty et al., 2013). In particular, as part of the transition to a more flexible economy, emphasis was placed on improving private business financing, a direct system of regulators, and stimulating decision-making in institutions (Planning Commission, 2013). Thus, an attempt is made to create a more responsive framework that can make more efficient and faster decisions.
As part of the plan, significant funding was allocated for the development of the country’s tourism infrastructure and support for the tourism business. These actions can become the basis for gradual economic growth. However, Wani and Jan (2018) point out that despite this, efforts should focus on creating tourism clusters around major tourist attraction points in India. Khan et al. (2014) also emphasize that India needs stronger marketing of the country as a tourism brand, which requires government involvement. As with the previous five-year plans, the 12th five-year plan places a special focus on the development of the agricultural sector. Mundhe (2015) notes that in the past thirty years, India has made significant progress in the development of this sector of the economy; the trend continues. In particular, the most important success is overcoming the food crisis through self-sufficient grain production.
Methodology
The qualitative data for the study are collected from primary and secondary sources. After that, data analysis was carried out to synthesize information and search for important aspects relevant to the topic. In particular, the main aspects of the plan are considered, as well as the results that have been achieved as part of its implementation. On their basis, a conclusion is made about the success of a particular initiative, and recommendations are given.
Results
Most importantly, although the transformation of the health care system has not been started, the foundations for its future development have been laid. Within the framework of governance, changes were also made in favor of the transition to self-government and the expansion of decision-making power. The tourism sector needs to change strategies in terms of marketing and tourism infrastructure. Finally, significant progress has been made in the development of the agricultural sector, as in previous plans.
Discussion
As part of the study, it was possible to achieve the main goal and evaluate the success of the 12th five-year plan in various aspects. Relevant primary and secondary sources that offer valuable information were reviewed. Additionally, it was possible to draw a number of important findings on the basis of which it was possible to draw primary conclusions about the success of the plan and its shortcomings.
Recommendations
Based on the results obtained, it can be concluded that future plans need more focus on the social sphere and the tourism sector. In particular, it is necessary to pay special attention to the transformation of the healthcare system. With regard to tourism, it is necessary to develop adequate marketing strategies for the country as a brand. It is also important to focus on the transformation of local tourism infrastructure and its improvement.
Limitations
Limitations of the study include a narrow focus on specific sectors of the economy. This problem can be solved in the future by a more comprehensive consideration of various aspects.
Conclusion
The present study was intended to review the major achievements and failures of India’s 12th Five-Year Economic Development Plan. As part of the study, such important aspects as health care, the management system, the tourism sector, and the agricultural sector were considered. As a result of the study, it was found that the plan did not achieve significant social and economic improvements but laid the foundation for the transformation of healthcare and tourism development.
Reference List
Daugherty, L., Miller, T., Dossani, R. and Clifford, M. (2013) Building the links between funding and quality in higher education: India’s challenge. RAND Corporation.
Khan, M., Noor, M. and Khan, M. (2014) ‘Tourism development in India under government five-year plans’, International Journal of Research, 1(3), pp. 126-137.
Mundhe, F. (2015) ‘Agricultural productivity in India: trends during five-year plans’, The Business & Management Review, 5(4), pp.175-181.
Planning Commission (2013) Twelfth five-year plan (2012–2017): faster, more inclusive and sustainable growth. SAGE Publications.
Verma, R., Khanna, A. and Dhankar, M. (2014) ‘Twelfth five-year plan (2012- 2017): a hope for better health in India’, Indian Journal of Public Health Research & Development, 5(3), pp. 263-267.
Wani, J. M. and Jan, A. (2018) ‘Tourism development in India under 12th five-year plan’, International Journal of Research in Engineering, Science and Management, 1(8), pp. 78-81.