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economic growth

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Economic Growth Attainment of a higher rate of economic growth has received topmost
priority all the five-year plans of the country. Given the acute poverty in the country, a higher rate of economic growth would help eradicate poverty and improve the standard of the people. The first plan envisaged a target of 11
per cent increase in national income against which 18 per cent growth in national income was achieved. The Second, Third and Fourth Plans envisaged annual growth rates of 5 per cent, 5.6 percent, and 5.7 percent respectively against which 4 per cent, 2 percent, and 3.4 per cent respectively were achieved. Again, the Fifth and Sixth Plan proposed annual growth rates of 4.37 percent and 5.2 per cent against which 5 per cent and 5.2 per cent respectively were achieved. The Seventh Plan, Eighth Plan and Ninth Plan set targets of 5 per cent, 5.6 per cent, and 7 per cent annual growth rate of national income respectively against which 6.02, 6.68, and 5.35 percents respectively, were achieved. Thus, attaining higher rate of economic growth is a common objective of all five-year plans of our country.

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