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Why 5 year plans are important?
Importance of Five-Year Plans: India’s economic development is measured by its rising Gross Domestic Product (GDP) and per capita income. Increment of number in Employment: A key goal for economic planning in India is to increase employment to utilize the nation’s human resources better.
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Which five year plan is most important?
The correct answer is Eleventh plan.
What is five year plan UPSC?
The idea of five-year plans is simple- The Government of India prepares a document with all its income and expenditure for five years. The budget of the central government and all the state governments is divided into two parts: non-plan budget and plan budget.
Who rejected the fifth five year plan?
The Janata Party government rejected the fifth five-year plan and introduced a new Sixth five-year plan(1978-1983). This plan was again rejected by the Indian National Congress government when it came to power in 1980 and a new sixth plan was made.
Is it good to have a 5 year plan?
Making a five-year plan is one of the most effective ways to move forward in life, both personally and professionally. Learn how to brainstorm and set a long-term plan.
Are Five Year Plans a good idea?
5-year plans hold real strategic value. Not only do they offer a balanced timeline, long enough for major life changes to happen but not so long as to make the goals seem too far away and decrease motivation, but they also help the planner create a structured, sensible approach in their daily life.
Which five-year plan is most unsuccessful?
Detailed Solution: Third Five Year Plan was a failure due to India-China war followed by Indo-Pakistan. Third Five Year Plan (1961-66) aimed to make India’s economy ‘self-reliant’ and ‘self-generating’.
Which five-year plan is not successful?
Fourth Five Year Plan: This plan was a failure and achieved a growth rate of 3.3% only against the target of 5.7%.
Which five-year plan is complete?
12th Five Year Plan of the Government of India (201217) was India’s last Five Year Plan. With the deteriorating global situation, the Deputy Chairman of the Planning Commission Mr Montek Singh Ahluwalia has said that achieving an average growth rate of 8 per cent in the next five years is not possible.
Who gives final approval to five-year plan?
Detailed Solution. the correct answer is National Development Council. The National Development Council (NDC) headed by the Prime Minister with all Chief Minister and cabinet ministers are the final authority to approve the five-year-long policy.
