The correct answer is (a). The Eighth Five-Year Plan (1992-1997) was the first plan of the post-liberalization era in India. It was a period of rapid economic growth, with the GDP growth rate averaging 7.8% per year. This was the highest growth rate achieved during any of the five-year plans.
The Eighth Plan was based on the following objectives:
- To achieve a growth rate of 8% per year in GDP
- To reduce poverty by 10%
- To improve the quality of life of the people
- To achieve self-reliance in food production
- To develop infrastructure
- To promote exports
The Eighth Plan was successful in achieving most of its objectives. The GDP growth rate averaged 7.8% per year, poverty was reduced by 10%, and the quality of life of the people improved. Infrastructure was developed, and exports increased.
The Eighth Plan was a major turning point in the history of India. It marked the beginning of a period of rapid economic growth and development. The success of the Eighth Plan laid the foundation for the even more rapid growth that India has experienced in recent years.
The other options are incorrect. The Ninth Five-Year Plan (1997-2002) had a GDP growth rate of 6.8% per year. The Tenth Five-Year Plan (2002-2007) had a GDP growth rate of 8.0% per year. The Seventh Five-Year Plan (1985-1990) had a GDP growth rate of 5.6% per year.