Which Five-Year Plan was executed under the leadership of PV Narasimha Rao?

Correct option is B

The correct answer is (B) Eighth Five-Year Plan

Explanation:

The Eighth Five-Year Plan (1992–1997) was executed under the leadership of PV Narasimha Rao, who served as the Prime Minister of India from 1991 to 1996. During his tenure, significant economic reforms were introduced, including liberalization, privatization, and globalization, which greatly impacted India's economy.

Information Booster:

1. The Eighth Five-Year Plan focused on economic growth, poverty alleviation, and improving the living standards of people.

2. It was marked by economic liberalization, a shift from a closed economy to a more open, market-driven economy.

3. Under PV Narasimha Rao, the country undertook several important reforms such as devaluation of the rupee, and the introduction of new economic policies.

4. The plan also aimed at modernizing India’s industrial and financial sectors and encouraged foreign investment.

5. This period witnessed India emerging as a key player in the global economy due to these reforms.

Additional Information:

•  Fifth Five-Year Plan: This plan was executed earlier, between 1974 and 1979, under Indira Gandhi's leadership.

• Sixth Five-Year Plan: The Sixth Plan (1980–1985) was executed under the leadership of Indira Gandhi and Rajiv Gandhi, focusing on social justice and increasing employment opportunities.

• Seventh Five-Year Plan: The Seventh Plan (1985–1990) was executed under Rajiv Gandhi, which emphasized economic growth, reducing poverty, and expanding the service sector.