Duration of the Fifth Five-Year Plan
As can be deduced from the name, the overall duration of the fifth five-year should have been five years. However, it was only implemented from 1974 to 1978. The functioning of this five-year plan stopped after 1978 because the Janata Party overtook it, and new aims were taken up. The Rolling Plan was introduced for a brief period of about one year.
Main Objective Of The Fifth Five-Year Plan
Five-year planning refers to planning measures in an economy in which certain goals and aims are pre-decided on a five-year basis to tackle and solve the central problems of the economy. In India, the Planning Commission undertook the mammoth task of five-year planning until 2015. This commission included the Prime Minister as its chairperson and several ministers and economists of the country. There have been 12 five-year plans in India each with different themes and objectives. However, the basic aim of these five-year plans remained on GDP growth and social welfare.