Briefly describe the achievements and status of the 3rd Five Year Plan

Question

Briefly describe the achievements and status of the 3^rd Five Year Plan

Accepted Answer

Achievements of the Plan:

The above-stated objectives and particulars show that the 3^rd Five Year Plan had a lot of merits when we analyze its growth, its synopsis is as under:

An increase of 9.5 % was expected in exports but only a 7 % increase could be possible.
The pace of growth in agriculture remained lower than the expected pace the target fixed was 4.5 %.
In the industrial sector, the target fixed was 13 % but only a 9 % increase could be made possible.

Feature of the plan:

The Third Five Years Plan could not succeed fully. In most of the factors, it could not reach its pre-fixed targets.

Reason of Failure:

The 3 Five Year Plan was surrounded/ enveloped by unfavorable circumstances from the very beginning.

Severe Drought:

A severe drought was experienced during the first two years. It affected crops badly.

Indo Pak War 1965:

Defense expenditures increase because of Indo-Pak War in 1965. It causes a reduction in the proceeding resources for development expenditure.

The decrease in foreign aid:

A decrease of 27 % was also noted in foreign aid. Agricultural output decreased too.

The rate of growth (%) in the Industrial and agricultural sector 1958-69

Year	Large Scale Industrial	Small Scale Industries	Agriculture
1958-59	5.6	2.3	4.0
1960-61	20.3	2.9	-0.2
1961-62	19.9	2.9	6.2
1962-63	15.7	2.9	5.2
1963-64	15.5	2.9	2.5
1964-65	13.0	2.9	5.2
1965-66	10.8	2.9	0.5
1966-67	67	29	55
1967-68	7.6	2.9	11.7
1968-69	10.6	2.9	4.5

Source: Economic Survey of Pakistan 1984-85

This table shows that during this period large-scale industries flourished while the rate of growth of small scales industries remained either stagnant or below the desired growth. The agriculture sector continued to suffer fluctuations continuously.