India's 1st and 2nd five year plans paved the way for the
3rd five year plan, the term of this plan being from the year 1961 to 1966. Five year plans were introduced by the Indian government, so that people could make the optimum use of the resources better their living standards. Effective usage of the resources would eventually ensure an enhancement in output.
Main events of the 3rd five year plan (1961 to 1966):
1. 3rd five year plan laid considerable stress on the agricultural sector. However, with the short lived Sino Indian War of 1962 India diverted its attention to the safety of the country. Again, during the period 1965 to 1966, owing to Green Revolution, once again agriculture attracted attention.
2. Due to the Sino Indian War, India witnessed increase in price of products. The resulting inflation was cost push in nature. Many dams were constructed during this period. It may be recalled, that when the 1st five year plan was tabled, construction of Hirakud dam, Mettur dam and Bhakra dam had taken place. Along with dams, India got many fertilizer plants and cement making plants. Abundant production of wheat took place in Punjab.
3. When the 1st five year plan was introduced people were slightly apprehensive about the success of the plan. So, when it was discovered that the 1st and the 2nd five year plans were successful, people pinned their hopes on the next five year plan.
4. Role of the states increased and they were given more prominence. Many primary schools had started functioning in the village areas. Various bodies looking into matters related to secondary education were also formed. To promote democracy, there was commencement of the Panchayat elections.
5. There was formation of state electricity boards. The state governments were entrusted with the responsibility of constructing roads.
Objectives of the 3rd five year plan:
In addition to the above measures and proposals, the Planning Commission aimed at the following:
Increasing the national income by 5 percent per annum.
Making India self sufficient by increasing agricultural production. This step was taken to ensure that India does not have to bank on others for food products.
Minimizing rate of unemployment.
Ensuring that people enjoy equal rights in the country.