The five year plans was setup with different goals to be achieved by the country.
The different goals of these five year plans were- Growth, Modernization, Self-reliance and Equity. But due to scarcity of resources these goals were not given equal importance. Priority has to given to some goals.
GROWTH– Growth means increase goods and services available in the economy. The method to calculate the growth is GDP. The steady growth in GDP indicates the Economy is working well. For this all sectors like agriculture, industrial and service sector has to contribute for the development.
MODERNIZATION- Modernization involves development in all social, mental and technological upgradation. The mental upgradtion of all the people in the social outlook will help the economy in modernization. Also by adopting new technology will help in modernization of the society and in the economic development.
SELF-RELIANCE– It means making country self dependent on the products which they can produce. This is to make country less dependent on imports.
EQUITY– Equity means to give equal importance to all the citizen of the country. The available goods and services in the society should be equally distributed to all sections of the society not only to rich.