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Q56 (CDS-I/2016) Economy › Money, Banking & Inflation › Inflation and policy Answer Verified

Which one of the Five Year Plans had a high priority to bring inflation under control and to achieve stability in the economic situation ?

Result
Your answer: —  Â·  Correct: B
Explanation

The Fifth Five-Year Plan (1974-79) was formulated during a period of severe economic crisis characterized by run-away inflation, largely fueled by the global hike in oil prices [1]. While the primary objectives of the plan were the removal of poverty ('Garibi Hatao') and the attainment of self-reliance, the prevailing economic conditions necessitated a high priority on bringing inflation under control and achieving stability in the economic situation [1]. The plan was launched by D.P. Dhar against this backdrop of inflationary pressure. Although the Fourth Plan (1969-74) aimed for 'growth with stability', the specific emphasis on controlling severe inflation as a prerequisite for stability is most prominently associated with the Fifth Plan's strategic response to the mid-1970s crisis.

Sources

  1. [1] Geography of India ,Majid Husain, (McGrawHill 9th ed.) > Chapter 15: Regional Development and Planning > Fifth Five-Year Plan (1974–78) > p. 6
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SIMILAR QUESTIONS

IAS · 2019 · Q70 Relevance score: -0.14

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