Marked as spam
The Rolling Plan was introduced from 1978 to 1980.
As per Wikipedia “The Janata Party government rejected the Fifth Five-Year Plan and introduced a new Sixth Five-Year Plan (1978–1980). This plan was again rejected by the Indian National Congress government in 1980 and a new Sixth Plan was made.The Rolling Plan consists of three kind of plans that were proposed. The First Plan is for the present year which comprises the annual budget and Second is a plan for a fixed number of years, which may be 3, 4 or 5 years. Plan number two is kept changing as per the requirements of the Indian economy. The Third Plan is a perspective plan which is for long terms i.e. for 10, 15 or 20 years. Hence there is no fixation of dates in for the commencement and termination of the plan in the rolling plans. The main advantage of the rolling plans is that they are flexible and are able to overcome the rigidity of fixed five year plans by mending targets,the object of the exercise, projections and allocations as per the changing conditions in the country’s economy. The main disadvantage of this plan is that if the targets are revised each year, it becomes very difficult to achieve them which are laid down in the five-year period and it turned out to be a complex plan. Frequent revisions make them resulted in instability of the economy which are essential for its balanced development and progress.”
Click here for 10 MCQs on Economic Planning : Quick Online Quiz
Marked as spam