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Eighth Five Year Plan (1992-1997)
2009-06-16 22:06:00 GKToday

Annual Plans 1990-92: Due to political turmoil at the center as well as the global economic changes and fiscal imbalances of the country in late 80s , the Eighth plan could not take off in 1990. The National Development Council ratified the format of the plan. It was decided that Eighth Five Year Plan would commence on April 1, 1992 and that 1990-91 & 1991-92 have to be treated as separate Annual Plans formulated within the framework of the earlier approach to the 8th Five year Plan 1990-95. Eighth Five Year Plan 1992-1997: 1. Major Objectives: 1 . 1 . Creation of employment, check population growth, and overall human development. 1.2. Primary health facilities, Drinking Water & Vaccination in all villages 1.3. Growth and diversification of agricultural activities 1.4. Strengthen the basic Infrastructure. 2. 8th plan was a plan for managing the transition from a centrally planned economy to market led economy through indicative planning. 3. By 1992, India was a party to WTO and decision of opening of Indian Economy was taken to correct the increasing deficit and foreign Debt. 4. Plan Outlay was Rs. 798100 Crore 5 . Total Outlay for Public Sector : Rs. 434100 Crore (Rs. 361000 for new expense and Rs. 73100 for current expenses) 6. Annual Target Growth rate: 5.6% (Achieved growth 6.7%) 7 . Annual growth in Agriculture and allied sector 3.5 % (achieved growth 3.9%) 8. Target percapita income Growth: 3.8% (Achieved Growth 4.4%) 9. Inflation in September 1991 was 16.3 % which cut down by 3.8 % in November 1997. 10. Fiscal Deficit was 8.3 % in 1990-91, it was controlled and came down to 5.23 % in 1996-97.