What was the targeted economic growth rate as per the Sixth Five-Year Plan?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 5.2
The Indian economy benefited greatly from the Sixth Five-Year Plan. The actual growth rate was 5.7%, compared to the target growth rate of 5.2%.
- Setting India's economy on the correct course was the main goal of the sixth-year plan.
- It was put into place to achieve all of the goals, including lowering the poverty rate, raising the income of every state in India, and eliminating economic, social, and regional disparities with the aid of successful programmes for the advancement of marginalised groups and backward classes.
- It marked the start of economic liberalisation, or the loosening of laws, limits, and ordinances governing trade.
- Ration stores closed, and price control was eliminated.