Third Five Years Plan

The Third Plan (1961-62 to 1965-66) aimed at securing a marked advance towards self-sustaining growth.

Its immediate objectives were to :

• Secure an increase in the national income of over five per cent per annum and at the same time ensure a pattern of investment which could sustain this rate of growth in the subsequent Plan periods;
• achieve self-sufficiency in food grains and increase agricultural production to meet the requirements of industry and exports;
• expand basic industries like steel, chemicals, fuel and power and establish machine building capacity so that the requirements of further industrialization could be met within a period of about 10 years mainly from the country's own resources;
• fully utilize the manpower resources of the country and ensure a substantial expansion in employment opportunities; and
• establish progressively greater equality of opportunity and bring about reduction in disparities of income and wealth and a more even distribution of economic power. The Plan aimed at increasing the national income by about 30 per cent from Rs.14,500 crore in 1960-61 to about Rs.19,000 crore by 1965-66 (at 1960-61 prices) and per capita income by about 17 per cent from Rs. 330 to Rs. 386 over the same period.