If you take a close look on reports and stats, you will find that five year plans has been more than successful in India and that is one of the reasons why this plan is still continued in India...
India's Five-Year plans have been th blueprints for focussed development.The very first one set industry to be the priority area and all heavy industries were set up during this period under state ownership!
There is hardly an iota of doubt that the Indian economy is based on the planning through the five year plans and it is developed, planned and executed by the Planning Commission of India to extract the maximum outcome possible through these plans...
Five-Year Plans are very useful during the initial and intermediate developmental stage of an underdeveloped and developing economies.Netaji Subhas Chandra Bose foresaw the need for it as far back as in the thirties when India was under British rule and in his capacity as Congress President formed a Planning Commission and appointed Pandit Nehru as its chairman!
