Which five year plan's objective is ‘establishment of a self-reliant and self-generating economy’?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Third.
- The objective of "establishment of a self-reliant and self-generating economy" was the goal of India's Third Five-Year Plan (1961–1966). The plan aimed to reduce India’s dependence on foreign aid and to promote self-sufficiency by focusing on domestic production, particularly in key sectors like agriculture and industry.
- The plan sought to enhance food production and agricultural productivity to support the growing population and reduce dependency on food imports. The plan faced challenges due to various reasons, including the 1962 Indo-China War and the 1965 Indo-Pakistan War, which disrupted the economy, leading to an unsatisfactory outcome. Despite this, it set the stage for future economic policies and planning.