Question
Download Solution PDFThe Fourth Five Year Plan had began in the year __________.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 1969.Key PointsFourth Five-Year Plan:
- It began in 1969 and ended in 1974.
- The Gadgil Formula served as the foundation for the Fourth Five-Year Plan (1969–1974), which placed a strong focus on growth with stability and the move toward self-reliance.
- It focused on the development of agriculture, industry, and infrastructure.
- It was implemented during Indira Gandhi's tenure as prime minister in an effort to address earlier shortcomings.
- The Green Revolution increased agriculture, and the government nationalized fourteen significant Indian banks.
- Additionally, the Drought Prone Area Program was introduced.
- The actual growth rate was 3.3% compared to the target growth rate of 5.6%.
Additional Information
- The Indian Planning Commission was established in 1950 to formulate and implement five-year plans for economic development in India.
- It was replaced by NITI Aayog since January 1, 2015.
- After the Planning Commission, the five year plans also stopped to be made in India.
- An overview of all Five Year Plans implemented in India is highlighted below:
| Five Year Plan | Period | Targeted growth rate of GDP (in %) | Model | Objective/Focus |
| 1st | 1951-56 | 2.1 | Harrod-Domar model | main focus was on the agricultural development of the country to achieve food self-sufficiency |
| 2nd | 1956-61 | 4.5 | P.C. Mahalanobis Model | main focus was on the industrial development of the country. Industries Industrial Policy of 1956 was introduced. |
| 3rd | 1961-66 | 5.6 | Gadgil Yojna |
main target of this plan was to make the economy independent. The stress was laid on agriculture and the improvement in the production of wheat. Green Revolution was introduced. |
| Annual plans | 1966-69 | Plan Holidays | annual plans were made and equal priority was given to agriculture its allied sectors and the industry sector. | |
| 4th | 1969-74 | 5.7 | Ashok Rudra and Alon S. Manney Plan |
two main objectives of this plan i.e. growth with stability and progressive achievement of self-reliance. |
| 5th | 1974-79 | 4.4 |
plan focussed on Garibi Hatao, employment, justice, agricultural production and defence. Twenty-point program was launched in 1975. |
|
| Rolling Plan | 1978-83 | by Janta Party government of Morarji Desai |
The Rolling plan included the following three plans: (1) This plan was for the current year's budget; (2) it was for one of three predetermined years—3,4 or 5 years. (3)it was a long-term perspective plan—10, 15 or 20 years. |
|
| 6th | 1980-85 | 5.2 | based on investment Yojna, infrastructural changing, and trend to the growth model. | basic objective of this plan was economic liberalization by eradicating poverty and achieving technological self-reliance. |
| 7th | 1985-90 | 5.0 | prepared under Pranab Mukherjee |
with a focus on "food, work & productivity," intended to speed up the production of food grains, provide more job opportunities, and increase productivity. first time, the private sector got priority over the public sector. |
| Annual Plans | 1990-92 | maximization of employment and social transformation. | ||
| 8th | 1992-97 | 5.6 | John W. Miller Model |
top priority was given to the development of human resources i.e. employment, education, and public health. New Economic Policy 1991 of India launched. |
| 9th | 1997-2002 | 6.5 | focus of this plan was “Growth with Social Justice and Equality”. | |
| 10th | 2002-07 | 8.0 |
aimed to double the Per Capita Income of India in the next 10 years. It also aimed to reduce the poverty ratio to 15% by 2012. |
|
| 11th | 2007-12 | 9.0 | prepared under C. Rangarajan. | main theme was “rapid and more inclusive growth”. |
| 12th | 2012-17 | 8.0 | prepared under Mr. Montek Singh Ahluwalia. | main theme is “Faster, More Inclusive and Sustainable Growth”. |
Last updated on Jun 5, 2025
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