Karnataka Annual Plan 1978-79 Volume I Review of Panning and Proposals for the Annual Plan

Abstract

The Fifth Five Year Plan had two basic objectives: removal of poverty and attainment of economic self-reliance. Its commencement witnessed unstable economic situation and uncertainty partly due to drought, partly due to global oil crisis and the resulting strident inflation. Several unfavourable factors operated both in the domestic front end in the international sphere. This contributed, in a very large measure, to the under-utilisation of capacity in several key sectors. Therefore, attention had to be focused on the short-term management of the economy, awaiting the return of more stable conditions for proceeding with the five year frame work.