Which of the following five-year plan of India has achieved its target growth?

The correct answer is the Eighth PlanKey Points

• The Eighth Five-Year Plan of India, which spanned from 1992 to 1997, achieved its target growth.
• This plan focused on the modernization of industries, improvement in technology, and infrastructure development.
• During this period, India liberalized its economy significantly and initiated several economic reforms aimed at reducing the control of the government on various aspects of the economy and promoting private sector participation.
• These reforms led to a substantial increase in economic growth and productivity.
• The target growth rate for the Eighth Plan was 5.6%, but India managed to achieve an average growth rate of around 6.8%, which was higher than the targeted rate.
• The success of the Eighth Plan can be attributed to the positive response to economic liberalization, increased foreign investments, and a general move towards a more market-oriented economy.

Additional Information

• Eleventh Plan (2007-2012):
  • Target Growth Rate: 9%
  • Achieved Growth Rate: Approximately 8%
  • The Eleventh Plan aimed at “faster and more inclusive growth.” During this period, India witnessed strong economic growth, yet it fell short of the targeted 9%.
  • The global financial crisis of 2008-2009 significantly impacted India's economy, leading to lower growth than anticipated. Although sectors like services continued to perform well, issues such as inflation, infrastructural bottlenecks, and slower agricultural growth posed a challenge
• ​Ninth Five-Year Plan:
  • Its duration was from 1997 to 2002, under the leadership of Atal Bihari Vajpayee. 
  • The main focus of this plan was “Growth with Social Justice and Equality”.
  • It was launched in the 50th year of independence of India.
  • This plan failed to achieve the growth target of 6.5% and achieved a growth rate of 5.6%.
• Tenth Five Year Plan:
  • Its duration was from 2002 to 2007, under the leadership of Atal Bihari Vajpayee and Manmohan Singh. 
  • This plan aimed to double the Per Capita Income of India in the next 10 years.
  • It also aimed to reduce the poverty ratio by 15% by 2012.
  • Its growth target was 8.0% but it achieved only 7.6%.