Kerala 1967 An Economic Review

Abstract

The year 1967 was, in many aspects, an year of general crisis in the economy and social life of the Nation. The crisis in planning culminating in the postponement of the Fourth Five Year Plan till April, 1969, and the persisting uncertainty about resources position, both in terms of domestic and foreign resources, marked the beginning of an era of serious re-thinking on basic economic and social politics pursued at the national level. The increasing dependence of India on foreign countries for economy aid and the country's movement away from the cherised goals of self-reliance underlined the gloomy outlook of the economy in 1967.