The Eighth Five-Year Plan is different from the earlier ones. The critical difference lies in the fact that

The correct answer is Option 4. While earlier plans were characterized by a centralized, command-economy model with rigid state controls, the Eighth Five-Year Plan (1992–1997) marked a paradigm shift following the 1991 Economic Reforms.

The critical difference lies in the transition toward Liberalization, Privatization, and Globalization (LPG). Key reasons why Option 4 is the defining factor include:

• End of License Raj: Systematic deregulation led to the abolition of industrial licensing for most industries, allowing market forces to determine investment.
• Indicative Planning: Unlike previous plans that focused on direct state investment, this plan shifted the Planning Commission's role to "indicative" planning, focusing on the private sector as the primary engine of growth.
• Distinction: While Options 1, 2, and 3 (larger outlays, agriculture, and infrastructure) were features of several previous plans, the structural dismantling of the licensing regime was unique to the Eighth Plan's post-reform framework.