1. At this time Indira Gandhi was the Prime Minister. The Indira Gandhi government nationalized 14 major Indian banks.
2. In addition, the situation in East Pakistan (now independent Bangladesh) was becoming dire as the Indo-Pakistani War of 1971 and Bangladesh Liberation War took place.
3. Funds earmarked for the industrial development had to be used for the war effort. India also performed the Smiling Buddha underground nuclear test in 1974, partially in response to the United States deployment of the Seventh Fleet in the Bay of Bengal to warn India against attacking West Pakistan and widening the war.
4. The aim in this plan was to achieve stability and progress towards self reliance
5. To get a over all rate of growth of 5.7 % annually. However achieved growth was 3-3.5%.
6. To bring the stability in the prices of food grains.
7. To raise exports at the rate of 7 percentage annually.
8. The total plan outlay was 24880 crore.
2. In addition, the situation in East Pakistan (now independent Bangladesh) was becoming dire as the Indo-Pakistani War of 1971 and Bangladesh Liberation War took place.
3. Funds earmarked for the industrial development had to be used for the war effort. India also performed the Smiling Buddha underground nuclear test in 1974, partially in response to the United States deployment of the Seventh Fleet in the Bay of Bengal to warn India against attacking West Pakistan and widening the war.
4. The aim in this plan was to achieve stability and progress towards self reliance
5. To get a over all rate of growth of 5.7 % annually. However achieved growth was 3-3.5%.
6. To bring the stability in the prices of food grains.
7. To raise exports at the rate of 7 percentage annually.
8. The total plan outlay was 24880 crore.