In India, which two years were known as annual plans before eighth five year plan was launched?
Show answer & explanation
Correct answer: D
Explanation
The Eighth Five-Year Plan was originally scheduled to begin in 1990, but was postponed due to the rapidly changing political situation at the Centre and the economic crisis (balance of payments crisis).
Key Details:
Plan Holiday: The years 1990-91 and 1991-92 were treated as two separate annual plans.
Eighth Five-Year Plan (1992-1997): It finally began in 1992. The main emphasis of this plan was on 'human resource development' and during this period India adopted the LPG (Liberalization, Privatization, and Globalization) reforms.
Other Annual Plans and Gaps in India:
There have been three major gaps in India's planning history:
1966-1969: After the Third Plan (due to drought and war). This is called the 'Plan Holiday'.
1978-1980: The Janata Party government prematurely ended the Fifth Plan and introduced the 'Rolling Plan'.
1990-1992: Due to political instability and economic crisis.