Hello friends welcome to Sonu live ,in this article I’m going to tell you about Plan Holidays and Rolling Plan in India
In India, they use different strategies to plan how the country’s economy should grow. Two interesting ideas in this process are Plan Holidays and Rolling Plans. Let’s understand them better:
Plan Holidays
What are Plan Holidays?
The period between (1966-69) was a plan holiday because India was facing huge inflation and food shortage and had to devalue Indian currency in year (06/06/1966).To handle the situation Green Revolution was introduced in agriculture sector to make India self reliant in food grains. Also it was held again in year (1990-92) . Due to political instability and economic problems.
Why do they have Plan Holidays?
- Checking Progress: They take a break to look at how well things went during the last plan.
- Making Changes: They can decide if they need to do things differently in the next plan.
- Dealing with Uncertainty: Sometimes, when things are uncertain, they take a break to figure out the best way forward.
Challenges faced during Plan Holidays
- Slowing Down: Taking a break from planning can slow down the progress of economic projects.
- Losing Momentum: It might make it harder to keep moving forward with long-term plans.
Results of Plan Holidays
India took three Plan Holidays between 1966 and 1969 because they felt the Third Five-Year Plan didn’t work well. This time helped them think about what to do next, but it also made businesses and investors unsure about the future.
Rolling Plans
What is a Rolling Plan?
The period between (1978-80) is considered as Rolling Plan. This plan was firstly suggested by Gunnar Mirdal in his book Asian Drama. And in India this plan was implemented by Janta Party and Lakrawala .
Why do they have Rolling Plans?
- Being Flexible: Rolling Plans let them adjust their plans quickly if something unexpected happens.
- Keeping Track: By looking at things every year, they can see if they’re going in the right direction and change course if needed.
Challenges faced during Rolling Plans
- Focusing on Short-Term: It might make them focus too much on what’s happening right now instead of thinking about the future.
- Confusing Businesses: Changing plans often might make it hard for businesses to plan for the long term.
Results of Rolling Plans
India tried using Rolling Plans in the late 1970s. It had some good points, but they went back to Five-Year Plans because they were worried about not thinking enough about the future.
Conclusion
Plan Holidays and Rolling Plans are ways India tries to figure out how to make its economy better. Both have good and bad sides. Right now, India mostly focuses on long-term plans but keeps some flexibility for changes along the way.
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