Question
Download Solution PDFIndicative planning was adopted in India during the _______ Five-Year Plan.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Eighth.
Key Points
- Indicative Planning in India was first introduced in the eighth Five-Year Plan.
- Eighth Five-Year Plan (1992 - 1997):
- It adopted Indicative Planning in India.
- A form of economic planning, Indicative planning is implemented by a state to solve the issue of imperfect information in the market and mixed economies.
- This is done to increase economic performance.
- Indicative Planning was first attempted in France.
- India's Eighth Five-Year Plan mentions that planning would have to be reoriented so as to make it indicative.
Additional Information
- Five-year plans :
| Plan | Period |
| First Five year Plan | 1951-1956 |
| Second Five year Plan | 1956-1961 |
| Third Five year Plan | 1961-1966 |
| Plan Holidays – Annual Plans | 1966-1969 |
| Fourth Five year Plan | 1969-1974 |
| Fifth Five year Plan | 1974-1979 |
| Sixth Five year Plan | 1980-1985 |
| Seventh Five year Plan | 1985-1990 |
| Annual Plans | 1989-1991 |
| Eighth Five year Plan | 1992-1997 |
| Ninth Five year Plan | 1997-2002 |
| Tenth Five year Plan | 2002-2007 |
| Eleventh Five year Plan | 2007-2012 |
| Twelfth Five year Plan | 2012-2017 |
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