What role did Small-Scale Industries (SSIs) play in the 6th Five-Year Plan's trade strategy?
Show answer & explanation
Correct answer: C
Explanation
Answer: They were promoted as major exporters and job creators.
Explanation:
The primary objective of the Sixth Five-Year Plan (1980-1985) was poverty alleviation and technological self-reliance. Small-Scale Industries (SSIs) were considered the backbone of the economy in this plan. As part of the trade strategy, these industries were not only considered a source of employment but also a key pillar of export promotion to earn foreign exchange. The government reserved several products for small-scale industries to protect them from competition from large industries and to accelerate industrial development in rural and backward areas.
Additional Points:
NABARD was established (1982) during this plan.
Exim Bank was also established in 1982 to promote exports.
Possible Exam Questions and Answers:
Question: In which Five-Year Plan was the slogan 'Garibi Hatao' (Remove Poverty) coined?
Answer: Fifth (but made the main target in the sixth).