Fifth Plan's Core Objective
The Fifth Five Year Plan of India, spanning from 1974 to 1979, had a primary emphasis on national progress and economic self-reliance.
Key objectives included strengthening the economic base, improving the living standards of the poorest sections of society, and ensuring social justice. The overarching goal was the removal of poverty, often associated with the slogan 'Garibi Hatao'. Promoting self-reliance in agriculture and defense was also a significant component.
Important Questions from Fundamentals of Economy
The meaning of _______ is freedom for economic decisions, which means that all the producers, owners and consumers of factors of production are free to take their decisions to promote their self-interest.
The problem of choice arises on account of the pressure of three interrelated facts, viz, human wants are unlimited, means required to satisfy these wants are limited and ____.
"What to produce?" is a basic problem faced by an economy under which of the following central problems?
In which type of economy social justice is accorded higher priority than profit maximization?
Which industry is also known as basic industry?
