After the postponement of the Fourth Five Year Plan, annual plans were launched for the first time in India. In which year was this?

Question

Question

This question was previously asked in

JKSSB SI Official Paper (Held On: 11 Dec 2022 Shift 2)

Answer 1

The correct answer is 1966.

Key Points

The Fourth Five Year Plan of India was supposed to span from 1966 to 1971.
However, due to various factors like the Indo-Pakistan War of 1965, economic instability, and droughts, it was postponed.
Instead of a comprehensive plan, annual plans were introduced to manage the economic planning process during this interim period.
The introduction of these annual plans marked the first time India shifted from a five-year planning model to a yearly planning model.
These annual plans focused on addressing immediate challenges and stabilizing the economy before the next Five-Year Plan could be formulated.

Additional Information

Key Points
- Five-Year Plans were a series of centralized economic and social development initiatives in India.
- The Planning Commission of India was responsible for formulating these plans.
- The plans aimed at achieving rapid industrialization, economic growth, and social equity.
- Annual Plans were introduced as a temporary measure to deal with economic uncertainties and immediate needs.