In the context of Five Year Plans, what does the term "plan holiday" refer to?
Discontinuity in five-year planning
The term "plan holiday" refers to the period between 1966 and 1969 when India temporarily discontinued the regular practice of implementing consecutive Five Year Plans.
This break followed the setbacks caused by the wars with China and Pakistan, successive droughts, and the devaluation of the rupee, which strained the economy and disrupted planned development.
During this period, annual plans were used instead of a Five Year Plan, marking a discontinuity in the planning process rather than a suspension of budgets altogether or an ideological shift from socialism to capitalism.
Hence, the answer is Discontinuity in five-year planning.
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The Five Year Plan was first launched in
Which of the following was/were the feature(s) of Lenin’s New Economic Policy (NEP) for the Soviet Union?
1) Private retail trading was strictly forbidden
2) Private enterprise was strictly forbidden
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Select the correct answer using the code given below:
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Private ownership of the means of production is a feature of a _______ economy.
