India: Five-Year Plans and License Raj Industrial Policy (1951–1991)

1. Planning Commission established to guide development planning

   Mar 15, 1950Labels: Planning Commission, India

   • CBC India
   • Planning Comm

2. First Five-Year Plan begins with agriculture focus

   Apr 1, 1951Labels: First Five-Year, Agriculture

   • Five Year Plans
   • Planning Comm

3. Industries (Development and Regulation) Act creates licensing powers

   May 8, 1951Labels: IDRA 1951, Parliament

   • Law Ministry

4. Industrial Policy Resolution formalizes the mixed economy

   Apr 30, 1956Labels: Industrial Policy, Mixed economy

   • IPR 1956

5. Second Five-Year Plan shifts toward heavy industry

   May 14, 1956Labels: Second Five-Year, Mahalanobis model

   • Forbes India
   • Five Year Plans

6. Third Five-Year Plan begins; wars and drought strain planning

   Apr 1, 1961Labels: Third Five-Year, Wars 1962

   • Five Year Plans
   • Third Plan

7. ‘Plan holiday’ replaces Five-Year Plans with Annual Plans

   Apr 1, 1966Labels: Plan Holiday, Annual Plans

   • Planning Comm

8. High Yielding Varieties Programme launches Green Revolution push

   Jul 1, 1966Labels: HYVP, Green Revolution

   • Agri India

9. Fourth Five-Year Plan restarts planning with self-reliance goals

   Apr 1, 1969Labels: Fourth Five-Year, Self-reliance

   • Fourth Plan
   • Planning Comm

10. Government nationalises 14 major commercial banks

    Jul 19, 1969Labels: Bank Nationalisation, Commercial banks

    • Scroll
    • 1969 India

11. MRTP Act passed to curb concentration of economic power

    Dec 27, 1969Labels: MRTP Act, Parliament

    • Competition Act
    • Indian Kanoon

12. FERA comes into force, tightening foreign exchange controls

    Jan 1, 1974Labels: FERA 1974, Foreign exchange

    • FERA FEMA

13. Fifth Five-Year Plan begins with poverty removal priority

    Apr 1, 1974Labels: Fifth Five-Year, Poverty removal

    • Fifth Plan
    • Five Year Plans

14. Industrial Policy Statement prioritizes small and tiny industries

    Dec 23, 1977Labels: 1977 Policy, Small-scale industry

    • GKToday

15. Six more private banks nationalised in second nationalisation wave

    Apr 15, 1980Labels: Bank Nationalisation, Private banks

    • RBI Chronology
    • Indian Express

16. New Industrial Policy statement shifts toward modernization emphasis

    Jul 1, 1980Labels: 1980 Policy, Modernization

    • Indira Gandhi
    • IP 1980

17. Seventh Five-Year Plan approved with technology-upgrading focus

    Nov 9, 1985Labels: Seventh Five-Year, Technology upgrading

    • Five Year Plans
    • Seventh Plan

18. Balance of payments crisis triggers end of License Raj era

    Jan 1, 1991Labels: Balance-of-payments crisis, Foreign reserves

    • 1991 Crisis

19. Industrial Policy Statement of 1991 dismantles core licensing controls

    Jul 24, 1991Labels: 1991 Industrial, Liberalization

    • UPI Archive
    • 1991 Project