Question

Which one among the following statements regarding the Eighth Five Year Plan in India is not correct?

• A. The plan was postponed by two years because of the political upheavals at the centre.
• B. It aimed at the high growth of both agriculture and manufacturing sectors.
• C. Its emphasis was on growth in export and import, improvement in the trade and current account deficit.
• D. It set before itself two principal objectives of growth with stability' and growth with justice.

Answer 1

The correct option is D It set before itself two principal objectives of growth with stability' and growth with justice.

Eighth Five Year Plan was introduced only in 1992, after the seventh plan ended in 1990. The two years in between were marked with political and economic instability. It was during this period that the policy of liberalization, privatization and globalization was introduced. India became an open economy and the focus was shifted to increase exports and imports and maintain current account balance at optimum levels. The planning commission targeted high growth in agriculture and manufacturing sector to support exports and achieve target growth rate of 5.6%.