Economic development and enhancement of the well being of the poor masses was the laudable and over-arching objective of the Indian plans since the beginning. It was initially thought that the solution of the basic problems of the country and economic regeneration is not possible without proper planning even within the framework of international interdependence. In 1991, India has completed forty years of planning experiment in a democratic set up and reached the cross-roads. After many years of planning the economy has transformed a lot and grown in enormous proportions. Inspite of many changes the basic objectives remained unrealized. Hence the government thought to go someway along alternative roads. Every approach has its merits and shortcomings and as a consequence new problems are being created in every field.
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