Which Five-Year Plan was the first to be terminated before its completion, and why?

The correct answer is Fifth Plan, due to a change in government.

Key Points

• The Fifth Five-Year Plan (1974-1978) was the first plan to be terminated prematurely.
• This plan was terminated by the newly elected Janata Party government in 1978.
• The termination occurred due to the government's shift in economic policy direction.
• The Janata Party government replaced the Fifth Plan with a Rolling Plan for 1978-1980.
• The Rolling Plan aimed to provide more flexibility in planning and adjustment to changing economic conditions.

Additional Information

• Five-Year Plans in India:
  • India's Five-Year Plans were centralized and integrated national economic programs.
  • These plans were developed, executed, and monitored by the Planning Commission of India.
  • The first Five-Year Plan was launched in 1951 and focused on the agricultural sector.
• Planning Commission:
  • The Planning Commission was an institution in the Government of India, which formulated India's Five-Year Plans.
  • It was established in March 1950 by a resolution of the Government of India.
  • It was replaced by the NITI Aayog in January 2015.
• Janata Party:
  • The Janata Party was formed in 1977 as a coalition of several opposition parties.
  • It was the first non-Congress party to form a government at the center after the 1977 general elections.
  • The government was led by Prime Minister Morarji Desai.
• Economic Policy Shifts:
  • The Janata Party government focused on reducing government intervention in the economy.
  • They aimed to promote a more market-oriented economic policy.
  • This shift led to the termination of the ongoing Fifth Five-Year Plan.