Which of the following periods was declared ‘Plan Holiday’ by the government?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 1966 - 1969.
The period declared as a ‘Plan Holiday’ by the Indian government was 1966-1969. During this time, India faced severe economic challenges including droughts, food shortages, and foreign exchange crises. Due to these difficulties, the government decided to pause the Five-Year Plans, which are comprehensive economic development programs, to focus on stabilizing the economy. Instead of launching a new plan, efforts were made to control inflation, improve agricultural production, and strengthen foreign reserves. This break allowed the country to recover from immediate crises before resuming planned economic growth with the Fourth Five-Year Plan starting in 1969.