Question : From which five-year plan onwards in India were fiscal and economic reforms, including liberalisation, adopted?
Option 1: Eighth Five-Year Plan
Option 2: Seventh Five-Year Plan
Option 3: Sixth Five-Year Plan
Option 4: Ninth Five-Year Plan
Correct Answer: Eighth Five-Year Plan
Solution : The correct answer is the Eighth Five-Year Plan .
The Eighth Five-Year Plan was executed from 1992 to 1997, and P. V. Narasimha Rao was the prime minister at that time. During this Eighth Five-Year Plan period, India achieved its highest annual growth rate, with high growth in the agriculture and manufacturing sectors as well as growth in exports and imports. The Eighth Five-Year Plan was famous for the LPG model: liberalisation, privatisation, and globalisation, and the LPG model was fully implemented in this five-year plan.
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