What was the primary focus of India's Eighth Five-Year Plan (1992–1997)?
Show answer & explanation
Correct answer: C
Explanation
Solution: The correct answer is Employment generation and human development.
Explanation:
☛ The Eighth Five-Year Plan (1992–1997) was launched under the leadership of Prime Minister P. V. Narasimha Rao.
☛ The topmost priority of this plan was human resource development, focusing primarily on employment generation, education, and public health.
☛ This plan was initiated immediately after the introduction of the Liberalisation, Privatisation, and Globalisation (LPG) reforms in 1991.
☛ The plan was based on the John W. Miller model and placed greater reliance on the private sector.
☛ It was a highly successful plan, achieving a growth rate of 6.8% against the targeted 5.6%.
Extra Exam-Relevant Facts:
☛ Annual Plans (1990–1992): The Eighth Plan was originally scheduled for 1990, but due to fast-changing political situations and economic crises, two annual plans were executed instead.
☛ Heavy industrialization: This was the primary focus of the Second Five-Year Plan (1956–1961), based on the P. C. Mahalanobis model.
☛ Self-reliance and Import substitution: These concepts were prioritized in the Third and Fourth Five-Year Plans.
☛ During the Eighth Plan, India became a founding member of the World Trade Organization (WTO) on 1 January 1995.
Important One-Liners for Upcoming Exams:
☛ Which economic model served as the basis for the Eighth Five-Year Plan? → John W. Miller model
☛ What was the actual GDP growth rate achieved during the Eighth Plan? → 6.8% (target was 5.6%)
☛ In which year did India join the World Trade Organization (WTO)? → 1 January 1995
☛ Who was the Deputy Chairman of the Planning Commission during the formulation of the Eighth Plan? → Pranab Mukherjee
☛ Which Constitutional Amendments establishing Panchayati Raj and Municipalities were implemented during this plan? → 73rd and 74th Constitutional Amendment Acts