Economic Growth and fourth five-year plan
Posted on : 21 Dec 2019Views: 259
- The fourth five-year plan was scheduled to begin from April 1, 1966, but due failure of the third plan (1961–1966), production in various sectors became stagnant.
- The growth target was not set for these three years but the actual growth rate was 3.9%.
- In 1966 the government of India declared devaluation of rupees. Rupee was devalued by 36.5 percent to bring domestic prices in line with external prices, to enhance the competitiveness of exports.
- The transition period of agriculture begins in 1966 when the green revolution takes place in the country.
- In this plan, the economy tried to overcome the failure faced by the country during the third plan. After absorbing the shocks of the third plan period it tried to make a way out for growth and development in the country with the main focus on the agriculture sector.
Article Related Questions
With reference to the plan holiday period of 1966-1969, consider the following statements
1.No growth target was set for these years.
2.Rupee was devalued to enhance export competitiveness.
3.The main focus was on the agriculture sector in these years.
Which of the statements given above are correct?
1.1 and 2 only
2.2 and 3 only
3.1 and 3 only
4.1, 2 and 3
Right Ans : 1, 2 and 3