what period of year is known as "Plan Holiday"?
Answers
The period between two five year plans is known as 'Plan Holiday'.
Explanation:
Because of the miserable failure of the Third Plan the government was forced to declare "plan holidays" (from 1966 to 1967, 1967–68, and 1968–69). A total of three annual plans were drawn during this intervening period. During the period of 1966–67 there was again the problem of drought. Equal priority was given to agriculture, its allied activities, and industrial sector. The government of India declared "Devaluation of Rupee" to increase the exports of the country. The main reasons for plan holidays were the war, lack of resources and increase in inflation.
There were total twelve five year plans and the last five year plan was in 2012-2017. The Planning Commission was replaced by NITI Aayog.
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Answer:
There are three Plan Holidays in the Indian Economic context as from 1966-1967, from 1967-1968 and 1968-1969.
Explanation:
According to the Indian economy, the term plan holiday refers to a gap between two to five years. Plan holidays took place due to change in government to be locked in development goals and priorities etc.
Plan Holiday is the gap of three years that was introduced in the Indian Economy after the failure of the Third Economic plan. There are three Plan Holidays in the Indian Economic context as from 1966-1967, from 1967-1968 and 1968-1969.
In India, devaluation occurred three times till today. In 1948 by John Mathai, in 1966 by Suchendra Chowdary, and 1991 by Manmohan Singh.
Plan holiday is mainly described as the gap between the two five-year plans. The period from 1966 to 1969, i.e. after the Third Five Year Plan and before the fourth five-year plan is called Plan Holiday.
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