Economics · Economic Planning in India
The transition from the Command Economy model to a more decentralized approach was solidified during a specific planning period that faced the dual challenge of a balance of payments crisis and high inflation. Which specific Five-Year Plan marked the formal shift towards Indicative Planning where the state's role was redefined as a facilitator rather than a direct controller of all industrial activities?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Seventh Five-Year Plan
- 2Eighth Five-Year Plan✓
- 3Ninth Five-Year Plan
- 4Sixth Five-Year Plan
Correct answer
Eighth Five-Year Plan
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