The Eighth Five Year Plan was a development plan implemented in India from 1992 to 1997, following the Seventh Five Year Plan. The main focus of the Eighth Five Year Plan was on economic growth and poverty reduction, with a target of an annual growth rate of 6% and a reduction in the poverty rate by at least 5%.
One of the major objectives of the Eighth Five Year Plan was to achieve self-reliance in food production through the implementation of various agricultural development programs. The plan also focused on the development of infrastructure, including the construction of roads, bridges, and power plants, as well as the expansion of telecommunications and the promotion of science and technology.
The Eighth Five Year Plan also placed a strong emphasis on social sector development, with a particular focus on education, health, and housing. The plan aimed to increase the enrollment and retention rates in primary and secondary schools, and to improve the quality of education through teacher training and the use of modern teaching methods. In the health sector, the plan aimed to improve the availability and accessibility of healthcare services, particularly in rural areas, and to address issues such as maternal and child health and the control of infectious diseases.
The Eighth Five Year Plan also aimed to promote the economic empowerment of women through initiatives such as the establishment of women's development corporations and the implementation of programs to encourage women's entrepreneurship.
Overall, the Eighth Five Year Plan made significant progress in the areas of economic growth, infrastructure development, and social sector development. However, the plan faced several challenges, including political instability, a slow-down in economic growth, and a lack of resources. Despite these challenges, the Eighth Five Year Plan laid the foundation for future development in India and contributed to the country's ongoing progress.
Eighth Five
The behaviour of prices during October-November 1988 was erratic. However, during the 7 FYP manufacturing growth slowed down to 9. For the 8FYP, therefore, an attempt is made for the first time to include a longer 20 year perspective and a macro-economic outlook for the five years of the Plan itself. Throughout the decentralisation experience, budgetary limitations have been a widely-felt constraint. The importance of religious institutions continues in present day Bhutan, as signified by the strength of the monk body who number about 5000 in Dratshangs or Rabdeys supported by the state. However, some areas can only be reached by mule tracks, foot trails, and cantilever and suspension bridges.
The 8th Five
With a few exceptions, a national park will not be paying its way in the short term, and may not do so in financial terms even in the long-run. Again, in respect of Electricity, Gas and water supply, as against the targeted growth rate of 9. The existing system will continue as trade with India still accounts for over 80 percent of total external trade. Bhutan has resident diplomatic representations in India, Bangladesh, Kuwait, New York and Geneva. Services and Private Transfers - Receipts The income from services and transfers is assumed to increase by 3% per annum with India and 12 percent per annum with Third countries. It is envisaged that the activities both in terms of volumes and new listings of companies will greatly increase during the 8 FYP which will deepen and widen the financial system. Non-performing Assets The latest statistics based on December 1994 performance show, after allowing for provisions for bad debts and doubtful loans, the ratio of bad debts in total loans standing at about 17%, which is high.
Eight Five Year Plan
While it is the Government's objective to mobilize continued community participation for these essential services, and since 5 FYP to further decentralise the functions on a selective basis, a corresponding effort has been made to enable local communities to determine the priorities for developments which affect them, whether these are part of national programmes or of a limited local nature, and to have more control over their implementation. Based on past trends and future investment on power sector projects and DCP, a growth rate of about 7% per annum is assumed. In 1964-65, it was registered to the tune of 2. By 1994, Bhutan achieved 77% self sufficiency in cereals and 38% in edible oils. The per capita income in the country was also very low. .
