India's National Development council, the NDC, has adopted the country's fifth five-year plan which provides for a public sector expenditure of 42,000 million U.
India's National Development council, the NDC, has adopted the country's fifth five-year plan which provides for a public sector expenditure of 42,000 million U.S. dollars (24,500 million pounds sterling).
SYNOPSIS: The Council met at the Vigyan Bhavan building in New Delhi on Friday (24 September) under the chairmanship of the Prime Minister, Mrs. Indira Gandhi. The adoption of the plan by India's highest central and state planning body came more than two years after the plan was launched in 1974. The delay was caused by inflation in 1974 and 1975 which made a revision of the original draft necessary.
Final details haven't yet been published, but it's understood that it provides for increased expenditure on irrigation, power and industry. It was the 31st meeting of the NDC and officials from all parts of India attended.
Mrs. Gandhi said the finalization of the plan as a morale booster which provided clinching evidence that the nation was in a position to resume the process of growth on a confident note. The plan approved was about 2,100 million U.S. dollars (1,250 million pounds sterling) more than the original draft.