Which of the following played a key role in financing industrial projects during the Fifth Five-Year Plan in 1974-1978?
Show answer & explanation
Correct answer: B
Explanation
Correct Answer:
Industrial Development Bank of India (IDBI)
Explanation:
During the Fifth Five-Year Plan (1974–1978), the Industrial Development Bank of India (IDBI) played a significant role in financing industrial projects. It was the principal development finance institution that provided long-term financial assistance for the establishment, expansion, and modernization of industries. IDBI helped accelerate industrial growth and supported the implementation of major industrial projects during the plan period.
Key Points:
IDBI played a major role in financing industrial projects.
It was a leading institution for providing long-term industrial finance.
Its objective was to promote industrial growth and modernization.
The Fifth Five-Year Plan emphasized industrial development.
Additional Facts:
IDBI was established in 1964.
Initially, it functioned as a subsidiary of the Reserve Bank of India.
IDBI made a significant contribution to India's industrialization process.
Important Questions:
Q1: When was IDBI established?
Ans: In 1964.
Q2: What was the primary function of IDBI?
Ans: To provide long-term financial assistance for industrial projects.
Q3: Which institution played a key role in industrial financing during the Fifth Five-Year Plan?
Ans: Industrial Development Bank of India (IDBI).