Policies of Government for Allocation of Funds to the Industry and Related Activities in Various Economic Plans in India: A Critical Appraisal

India adopted economic planning in 1951 and since then ten Five-Year plans are over. India’s Five-Year plans have the basic objectives of growth, employment, self-reliance and social justice. Any country that wishes to progress must place due emphasis on industrial development as economic development and modernization processes are closely inter-linked. In India, the importance of agriculture is self-evident as about two-third of the population depends on it, but industrialization has a major role to play in the economic development of the underdeveloped countries. This paper deals with the critical analysis of the policies of the government for allocation of funds to the industry and related activities in various plans.