Five Year Plans in India – Vol. 3

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07 Sep, 2015

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4th Five Year Plan

What was the planning period for the 4th Five Year Plan? – 1 April 1969 to 31st March 1974

What was the main emphasis of the 4th Five Year Plan? – Achieving high growth rate in agriculture sector

How was the performance of the agriculture sector during 4th Five Year Plan? – The first two years of the Plan (1969-71) was rapid growth in food production. However, last 3 years of the Plan (1971-74) could not match this growth due to failed Monsoon

Which plan is generally perceived as the stepping stone for the economic growth in the country? – 4th Five Year Plan

What important event in Indian banking sector took place during the 4th Five Year Plan? – The Nationalization of 14 banks (in 1969)

Which famous formula pertaining to distribution of plan assistance was adopted during 4th Five Year Plan? – The Gadgil Formula

What was Gadgil Formula? – Gadgil Formula was a formula devised by the then Deputy Chairman of Planning Commission Dr. D.R. Patil and it was associated with the distribution of plan transfers amongst the states (The central assistance provided for in the first three plans and annual plans of 1966–1969 lacked objectivity in its formulation and did not lead to equal and balanced growth in the states)

What was the significance of Indian agriculture sector for 4th Five Year Plan? – The benefits of the “Green Revolution” were felt during the 4th Five Year Plan with significant increase in India’s agriculture production and thus making India self-reliant in food production

Which important war was fought by the country during the 4th Five Year Plan? – Pakistan War of 1971 (After India intervened in the Bangla Liberation War between Pakistan and East Pakistan)

What was the targeted growth rate for 4th Five Year Plan? – 5.6% (However, the actual growth rate was just 3.3%)

5th Five-Year Plan

What was the planning period for the 5th Five Year Plan? – 1 April 1974 to 31st March 1979

Which economist was associated with the 5th Five Year Plan? – D.D. Dhar

What was the actual run-time of the 5th Five Year Plan? – Four Years (The 5th Five Year Plan was wound-up following rejection of the Plan by the newly installed govt. led by Prime Minister Morarji Desai in 1978)

What was the main focus of the 5th Five Year Plan? – Poverty Alleviation, self-reliance and employment generation

Which important slogan was given by Indira Gandhi during the 5th Five Year Plan? – “Garibi Hatao” (Eradicate Poverty)

What was the targeted growth rate for 4th Five Year Plan? – 4.4% (However, the actual growth rate was just 3.8%)

I Indian Economy | Indian Economy Notes | Economy of India | Planned Economy | Economy and Finance | Free Notes on Indian Economy |

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