Question

Which of the following five-year plans was affected due to drought and two wars?
1. First Five-Year Plan
2. Third Five-Year Plan
3. Fifth Five-Year Plan
4. Sixth Five-Year Plan

Answer 1

Correct Answer - Option 2 : Third Five-Year Plan

The correct answer is Third Five-Year Plan.

• First five-year plan was launched from 1951-1956 under the leadership of Pandit Jawaharlal Nehru.
  • It was based on the Harrod-Domar model.
  • The targeted growth rate of the plan was 2.1%.
  • The plan was successful and achieved a growth rate of 3.6% which was more than its target.
  • The agricultural development of the country was the major objective of the plan.
  • At the end of this plan, five IITs were set up in the country.
• The third Five Year Plan was launched from 1961-1966 under the leadership of Pandit Jawaharlal Nehru.
  • The Deputy Chairman of the Planning commission at the time of the third five-year plan was D. R. Gadgil.
  • The plan was also known as the Gadgil Yojana.
  • The independent economy, agriculture, and improvement in the production of wheat were the major objectives of the plan.
  • The third Five Year Plan was affected due to drought and two wars (Sino-India war of 1962 and Indo-Pakistani war of 1965).
• The fifth Five year Plan was launched from 1974-1978.
  • Eradication of poverty, employment, and justice was the major objective of the Fifth Five Year Plan.
  • The plan was successful and achieved a growth rate of 4.8%.
  • Indian National Highway system was introduced.
  • The newly elected Morarji Desai Government in 1978 terminated the plan.
• The seventh Five Year Plan was launched from 1985-1990 under the leadership of Rajiv Gandhi.
  • The private sector was given priority over the public sector for the first time.
  • The targeted growth rate of the plan was 5%.
  • The plan was successful and achieved a growth rate of 6.01%.
  • The establishment of a self-sufficient economy, opportunities for productive employment, up-gradation of technology, accelerating food grain production, raising productivity with a focus on food work and productivity were the major objectives of the Seventh Five Year Plan.