Planning Commission - Annual Plan Progress Report 1967-68

Abstract

From Chpt. 1: The strains under which the economy had operated since the end of the Third Five Year Plan continued till about the middle of the year. But second half of 1967-68 marked a turning point in the course of the economy. Good weather conditions in almost all parts of the country, coupled with a marked improvement in wheat output under the high yielding varieties programme raised foodgrains production to a new peak. Substantial increases were also registered in the production of commercial crops. A moderate revival in industrial production started during the later part of the year. While those industries which produced inputs for agriculture maintained the growth in their output, a revival in the production of agri- culture-based industries also set in with better availability of raw materials (from the new crop. Industries producing some of the consumer durables also showed signs of recovery, but the capital goods industry continued to be depressed. The declining trend in the rate of growth in industrial production observed after 1964-65 was arrested and the rate of growth in 1967-68 was marginally higher than in 1966-67.