I. Five-Year Plans (Historical Economic Policy)
- First Five-Year Plan (1951-1956):
- Start: April 1, 1951.
- Model: Harrod-Domar.
- Drafted by: K.N. Raj.
- Focus: Agriculture.
- Growth Target: 2.1%; Achieved: 3.6%.
- Second Five-Year Plan (1956-1961):
- Model: P.C. Mahalanobis.
- Focus: Heavy Industries.
- Key Establishments: Bhilai (Chhattisgarh), Rourkela (Odisha), Durgapur (West Bengal) Iron & Steel Plants.
- Growth Target: 4.5%; Achieved: 4.27%.
- Third Five-Year Plan (1961-1966):
- Model: Sukhmoy Chakravarty.
- Focus: Agriculture and Industry (both).
- Events: India-China War (1962), India-Pakistan War (1965).
- Outcome: Unsuccessful due to wars.
- Slogan: Jai Jawan Jai Kisan (Lal Bahadur Shastri).
- Establishment: Food Corporation of India (1965).
- Plan Holiday (1966-1969):
- Reason: Poor economic conditions after wars, leading to one-year plans.
- Initiative: Green Revolution for food self-sufficiency.
- Fourth Five-Year Plan (1969-1974):
- Model: Ashok Rudra / D.R. Gadgil (drafted).
- Objective: Economic development with stability and self-reliance.
- Growth Target: 5.5-5.7%; Achieved: 3.3%.
- Events: India-Pakistan War (1971), First Nuclear Test - Operation Smiling Buddha (Pokhran, 1974), Nationalization of 14 banks (1969).
- Fifth Five-Year Plan (1974-1978):
- Duration: Four years (prematurely ended).
- Model: D.P. Dhar.
- Objective: Poverty Eradication ("Garibi Hatao").
- Growth Target: 4.4%; Achieved: 4.8%.
- Rolling Plan (1978-1980):
- Initiated by: Janata Party government.
- Global originator: Gunnar Myrdal.
- Implemented in India by: Lakdawala.
- Sixth Five-Year Plan (1980-1985):
- Model: Input-Output Model.
- Objectives: Employment creation, poverty eradication.
- Establishments: NABARD (1982), Nationalization of 6 more banks (1980).
- Events: Operation Blue Star (1984), Operation Meghdoot (Siachen, 1984).
- Seventh Five-Year Plan (1985-1990):
- Objective: Social Justice with Modernization.
- Slogan: Roti, Rozgar aur Utpadakta (Food, Work, Productivity).
- Establishment: SEBI (1988).
- Plan Holiday (1990-1992):
- Reason: Foreign exchange crisis.
- Policy: New Economic Policy (NEP) - LPG Reforms (Liberalization, Privatization, Globalization) in 1991 under PM P.V. Narasimha Rao and FM Dr. Manmohan Singh.
- Eighth Five-Year Plan (1992-1997):
- Model: John W. Miller.
- Focus: Human Resource Development (influenced by Human Development Index concept).
- Events: 73rd and 74th Constitutional Amendments (Panchayati Raj & Urban Local Bodies, 1992), WTO established (Jan 1, 1995).
- Ninth Five-Year Plan (1997-2002):
- Objective: Social Justice and Equality with Economic Growth.
- Initiative: Pradhan Mantri Gram Sadak Yojana (December 25, 2000).
- Event: Kargil War.
- Tenth Five-Year Plan (2002-2007):
- Model: Input-Output Model.
- Objective: Social Justice and Equality with Economic Growth.
- Growth Achieved: 7.6% (highest till then).
- Initiative: NREGA (Act 2005, implemented February 2, 2006).
- Eleventh Five-Year Plan (2007-2012):
- Objective: Rapid and Inclusive Growth.
- Growth Achieved: 8% (highest ever).
- Initiative: Right to Education Act 2009 (implemented April 1, 2010).
- Twelfth Five-Year Plan (2012-2017):
- Objective: Rapid, Sustainable, and Inclusive Growth.
- Last Five-Year Plan.
- Agricultural Growth Target: 4%.
- Total Fertility Rate (Replacement Rate) Target: 2.1%.
II. Current Affairs
- GST Council 56th Meeting:
- Approved a new GST 2.0 rate structure effective September 22, 2025.
- New rates: 18% (standard), 5% (qualifying), and 40% (special disqualification rate for tobacco, super-luxury goods).
- Eliminated rates: 12% and 28%.
- Items at 12% move to 5%; items at 28% move to 18%.
- 0% GST for milk, paneer, ready-to-eat parathas, stationery, and 33 life-saving medicines (including 3 cancer drugs).
- GST Background: Implemented July 1, 2017, via 101st Constitutional Amendment Act (2016). It is an indirect tax on the concurrent list.
- Spyware "Garnet":
- US immigration agency and Israel's ICE signed an agreement for "Garnet," a powerful hacking spyware.
- Developed by Israel-based Paragon Solutions.
- Capabilities: Accessing mobile photos, reading messages (including WhatsApp), and tracking locations.
- Originally developed for monitoring journalists in Europe.
- Arundhati Roy's Memoir:
- New Memoir: "Mother Mary Comes To Me."
- Author: Arundhati Roy.
- Roy is known for "The God of Small Things" (Booker Prize, 1997, first Indian woman winner).
- India's First Vulture Conservation Portal:
- Launched by: V Foundation India (Assam).
- Objective: Conservation of beak-billed vultures, whose population declined due to the drug Diclofenac.
- Note: The world's first conservation and breeding center for Asian King Vultures (red-headed vultures) is in Maharajganj, Uttar Pradesh.
- NIRF India Ranking 2025:
- Released by: Ministry of Education (Dharmendra Pradhan) in New Delhi.
- Overall Top Institute: IIT Madras.
- Top Management Institute: IIM Ahmedabad.
- Top Agricultural Institute: Indian Council of Agricultural Research (ICAR), Delhi.
- National Teachers' Day 2025:
- Celebrated: September 5th, marking the birth anniversary of Dr. Sarvepalli Radhakrishnan.
- Dr. Radhakrishnan: First Vice President and Second President of India, Bharat Ratna recipient (1954).
- First celebrated: September 5, 1962.
- World Teachers' Day: October 5th.
- Aga Khan Award for Architecture 2025:
- Award for: Architecture.
- Established: 1977.
- India did not feature in the list of winners or top 15 countries.
- Pritzker Prize (Architecture's Nobel): Only Indian recipient is Balkrishna Doshi.
- Indigenous AI Tool (VL2G):
- Tool Name: VL2G (Vision and Learning Group).
- Developer: IIT Jodhpur.
- Function: AI-enabled tool to recognize and translate visual text across 13 Indian languages, connecting vision and language.
- Part of: Government's "Bhashini" initiative.
- Classical Languages: The lecture mentioned 6 existing (Tamil, Sanskrit, Telugu, Kannada, Malayalam, Odia) and 5 new additions (Marathi, Pali, Prakrit, Bengali, Assamese), totaling 11.
- British Museum Lending Vrindavan Textile:
- Item: 16th-century Vrindavan textile, a silken garment.
- Creator: Vaishnav Saint Srimanta Sankardev (Assam).
- Current location: London Museum (acquired 1904).
- Lent to: Assam for an exhibition in 2027.
- Significance: Depicts the "Kaliya Daman" play, also written by Sankardev, who founded Ankia Naat and Sattrita dance (8th classical dance of India).
- Northeast Aviation Summit 2025:
- Location: Arunachal Pradesh (2024 summit was in Meghalaya).
- Objective: Develop the aviation sector in Northeast India, enhance airport connectivity.
- Organizers: Ministry of Civil Aviation (Minister: Rammohan Naidu) and FICCI.
- India-Japan Joint Credit Agreement:
- Purpose: Promote carbon trading, green investment, and sustainable innovation under the Paris Agreement (COP 15, 2021).
III. Other Noteworthy Current Affairs
- Trojan 155 system: Developed with France.
- Kavacham disaster warning system: Kerala.
- Global Fire Power Index: India's rank 4th.
- Subhash Chandra Bose Aapda Prabandhan Puraskar 2025: Indian National Centre for Ocean Information Services (INCOIS).
- FIDE Chess World Cup 2025 Host: India.
- First Air Taxi Operator (Zero Launch): Sarala Aviation (Bengaluru).
- National Commercial Agriculture Research Institute: Rajahmundry, Andhra Pradesh (formerly Tobacco Research Center).
- Ireland PM: Michael Martin.
- 27th International Glass Congress: West Bengal, India.
- World Pickleball League first edition: Mumbai.
- NITI Aayog's first Fiscal Health Index top spot: Odisha.
- Cartey (living drug for blood cancer): Recognized by CDSCO.
- Wetland Cities list (first Indian cities): Udaipur and Indore.
- BSF's Operation Sard Hawa: Rajasthan.
- ICC Men's Test Cricketer of the Year: Jasprit Bumrah.
- T20 World Record (318 runs, not out): Tilak Varma.
- Assam's second capital announcement: Dibrugarh.
- MeerKAT telescope location: South Africa (discovered "Incath" galaxy 32 times larger than Milky Way).
- Mahakumbh stampede investigation committee: Justice Harsh Kumar.
- First private company for electric vertical take-off and landing (eVTOL) aircraft (DGCA certified): E-Plane Company.
- National Table Tennis Championship 2025 (women's singles): Dia Chitale.
- ISRO's 100th mission NVS-02 launch vehicle: GSLV F15.
- GSLV F16 launch vehicle: NISAR.
- Republic Day Parade 2025 Best Tableau (Defense Ministry): Uttar Pradesh (Mahakumbh tableau).
- First state to start Rural Cricket League: Bihar.
- Budget 2025 Fiscal Deficit (GDP % estimate): 4.4%.
- Budget 2025 Tax-exempt individual income: ₹12 lakh.
- Indian Railways' seamless travel super app: Swarail.