1st Plan : 1951-56
- Priority giving to Agriculture and Irrigation.
- "Harrod - Domar" growth model adopted.
- This is the only plan in which Prices Fell.
2nd Plan : 1956-61
- PC Mahalanobis prepared this Plan. Priority given to basic and heavy industries.
- Bhilai, Rourkela and Durgapur Steel Plants, ONGC, Ranchi Heavy Engg. Corporation, Neyveli Lignite Corporation, Multi-purpose projects - Nagarjuna Sagar, Bhakra Nangal, Hirakud started during this Plan.
- Deficit financing Started in this plan.
- "Socialist pattern of society" is accepted as a goal.
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