How many annual plan were launched between seventh and eighth five year plan of India?
Show answer & explanation
Correct answer: B
Explanation
Correct Answer:
Option 2: Two
Explanation:
The period between 1990 and 1992—falling between India's Seventh Five-Year Plan (1985–1990) and the Eighth Five-Year Plan (1992–1997)—was a time of political instability. During this period, due to the absence of a stable government at the Centre, a new Five-Year Plan could not be implemented. Consequently, two Annual Plans were implemented during this interim period. At this time, India was also grappling with a severe economic crisis and a Balance of Payments issue. It was during this very period that the New Economic Policy of 1991 (LPG reforms) was implemented, steering the Indian economy towards liberalization, privatization, and globalization.
Additional Facts:
Option 2: Correct answer.
Option 3: Four is incorrect.
Option 4: Five is incorrect.
Potential Questions for Upcoming Exams:
Question: What was the duration of the Seventh Five-Year Plan?
Answer: 1985–1990
Question: When did the Eighth Five-Year Plan begin?
Answer: 1992
Question: When was the New Economic Policy implemented?
Answer: 1991
Question: What is the full form of LPG?
Answer: Liberalisation, Privatisation, Globalisation