When Fourth Five Year Plan was implemented, Indira Gandhi was the Prime Minister of India. Green Revolution in India developed and advanced agriculture.
Indira Gandhi government nationalized 14 major Indian banks. Additionally, the situation in East Pakistan was becoming terrible as the 1971 Indo - Pakistani War & Bangladesh Liberation War took Funds allocated for the industrial development had to be abstracted for the war endeavor.
India also executed the Smiling Buddha underground nuclear test in the year 1974, partly in response to the US deployment of the 7th Fleet in Bay of Bengal. The fleet had been deployed to caution India against attacking West Pakistan & lengthening the war.
The target Growth of Fourth Five year plan was 5.7% and actual Growth was 3.3%.
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