Economy & Finance • Topic 4 of 4
National Income & Planning
India followed Five-Year Plans (the first began in 1951) under the Planning Commission, which was replaced by NITI Aayog in 2015. Per capita income is national income divided by population. The Census of India is conducted every ten years.
Planning then and now
| Body | Status |
|---|---|
| Planning Commission (1950–2014) | ran the Five-Year Plans; 1st Plan began 1951 |
| NITI Aayog (2015–) | replaced the Planning Commission; a policy "think tank" (non-constitutional) |
Measuring development
- Per capita income = national income ÷ population.
- HDI (Human Development Index), published by the UNDP, combines income, education and life expectancy.
- The Census of India is conducted every 10 years (decennial).
Revolutions to remember. Green Revolution = food grains; White Revolution (Operation Flood) = milk; Blue Revolution = fish; Yellow Revolution = oilseeds.
✅ Solved examples
1. Which body replaced the Planning Commission in 2015?
NITI Aayog.
2. When did India's First Five-Year Plan begin?
1951.
3. Which organisation publishes the Human Development Index?
The UNDP (United Nations Development Programme).
4. How often is the Census of India conducted?
Every ten years (decennial).
✏️ Practice — try these, take hints as needed
1. NITI Aayog replaced which body?
Old planning body.
—
—
Planning Commission
2. National income divided by population gives?
Per head.
—
—
Per capita income
3. The HDI is published by?
UN agency.
—
—
UNDP
4. India's First Five-Year Plan started in?
Early 1950s.
—
—
1951
5. The Census is held once every ___ years.
Decade.
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—
10
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Formula Reference Sheet
This chapter
Concepts & institutions
| GDP | value of all final goods & services produced within a country in a year |
|---|---|
| Monetary policy | controlled by the RBI (repo rate, CRR, etc.) |
| Fiscal policy | government taxation & spending (the Budget) |
| Direct tax | income tax, corporate tax |
| Indirect tax | GST (One Nation One Tax, from 1 July 2017) |
| RBI established | 1935; nationalised 1949 |
SSC reference
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