Which one of the following was set as a target of average growth of GDP of India over the plan period 2012-2017 by the Approach Paper to the Twelfth Five year Plan?
8 percent
Understanding India's Twelfth Five Year Plan (2012-2017)
The question asks about the target average Gross Domestic Product (GDP) growth rate set for India during the Twelfth Five Year Plan period, which spanned from 2012 to 2017. This target was outlined in the Approach Paper to the Twelfth Five Year Plan.
The Approach Paper to the Twelfth Five Year Plan
The Approach Paper serves as a foundational document prepared by the Planning Commission (now NITI Aayog) that sets the broad goals, strategies, and targets for the upcoming Five Year Plan. It provides the vision and key objectives that the detailed plan document will elaborate upon.
Target GDP Growth Rate for 2012-2017
For the Twelfth Five Year Plan (2012-2017), the Approach Paper set an ambitious target for India's average annual GDP growth rate. This target aimed to achieve faster, more inclusive, and sustainable growth.
The specific average growth rate targeted in the Approach Paper was 8 percent.
Analyzing the Options
Let's look at the given options:
- 7 percent
- 8 percent
- 9 percent
- 10 percent
Comparing these options with the target set in the Approach Paper to the Twelfth Five Year Plan, we find that the target was indeed 8 percent.
Key Takeaway: Twelfth Five Year Plan Target
The Twelfth Five Year Plan (2012-2017) aimed for an average annual GDP growth rate of 8 percent. This target was crucial for driving economic development and achieving the plan's broader goals.
Revision Table: Twelfth Five Year Plan
| Aspect | Details |
|---|---|
| Plan Period | Twelfth Five Year Plan (2012-2017) |
| Key Document | Approach Paper to the Twelfth Five Year Plan |
| Target Average GDP Growth Rate | 8 percent |
| Overall Aim | Faster, More Inclusive, and Sustainable Growth |
Additional Information: Five Year Plans in India
India's Five Year Plans were comprehensive national economic plans formulated and implemented by the Planning Commission of India. These plans set overall goals and targets for economic growth and development across various sectors.
- They played a significant role in shaping India's economic policy and development trajectory since independence.
- The Planning Commission was replaced by NITI Aayog (National Institution for Transforming India) in 2015, which shifted from centralized planning to a more consultative approach with states.
- The Twelfth Five Year Plan (2012-2017) was the last formal Five Year Plan. Subsequent strategies and visions are outlined by NITI Aayog.
Important Questions from Economy
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
3) Peasants were not allowed to sell their surplus
4) To secure liquid capital, concessions were allowed to foreign capitalists, but the State retained the option of purchasing the product of such concerns
Select the correct answer using the code given below:
In ________ economies, all productive resources are owned and controlled by the government.
Private ownership of the means of production is a feature of a _______ economy.
Which of the following comes under the Quarternary sector?
