In the case of the Rolling plan at the end of each year target will be fixed by adding one more year to plan. It will go on a continuous basis. This plan was started with an annual plan for 1978-79 and as a continuation of the terminated fifth five year plan. 

The Planning Commission has been replaced by the Nm Aayog on 1st January 2015 (National Institution for Transforming India). NITI Aayog will monitor, coordinate and ensure implementation of the accepted sustainable development goods. Nm Aayog serves as a knowledge hub and monitors progress in the implementation of policies and programmes of the Government of India.

PlanHoliday (1966 - 1969).
(i) The main reason behind the plan holiday was the Indo-Pakistan war and failure of Third Plan.
(ii) During this plan, annual plans were made and equal priority was given to agriculture its allied sectors and the industrial sectors.

Longevity (measured by life expectancy at birth), Educational attainments, and Standard of living (measured by real GDP per capita).

(i) Income is included in HDI and excluded in PQLI.
(ii) HDI represents physical and financial attributes of development. PQLI has only physical aspects of life.

(i) Indian agriculture is still a gamble of the monsoons.
(ii) This strategy needs heavy investment in seeds, fertilizers, pesticides and water.
(iii) Gap between irrigated and rain fed areas had widened.
(iv) Farm mechanization created unemployment.
(v) Larger chemical use reduced the soil fertility and spoiled human health.

(i) Zamindari system
(ii) Mahalwari system
(iii) Ryotwari system.

(i) Period of merchant capital
(ii) Period of industrial capital
(iii) Period of finance capital.

(i) The British rule stunted the growth of Indian enterprise.
(ii) The economic policies of British checked and retarded capital formation in India.
(iii) The drain of wealth financed capital development in Britain.

(i) Morris D Morris developed the Physical Quality of Life Index (PQLI).
(ii) It is a measure to calculate the quality of life
(iii) He included life expectancy, infant mortality rate and literacy rate. A scale of each indicator ranges from 1 to 100.
(iv) Number 1 represents worst performance of any country.
(v) 100 is the best performance. Eg. in case of life expectancy, the upper limit is 100.
(vi) This was assigned to 77 years which was achieved by Sweden in 1973.
(vii) The lower limit 1 was assigned to 28 years achieved by Guinea-Bissau in 1960.
(viii) The difference between HDI and PQLI is the inclusion of income.
(ix) In HDI income is included and it represents both physical and financial aspects of development.
(x) In PQLI income is excluded and only physical aspects of life are considered.

(i) Twelfth Five Year Plan period was 2012 - 2017.
(ii) Its main theme is "Faster, more inclusive and sustainable growth".
(iii) Its growth rate target is 8%.

(i) After Independence, the government adopted planned economic development.
(ii) The main objective of planning was social welfare.
(iii) Before Independence commercial banks were in the private sector.
(iv) These banks did not help the government to achieve the social objectives of planning.
(v) So the government nationalised 14 major commercial banks on 19th July 1969 and 6 more banks in 1980.

(i) The period of merchant capital was from 1757 to 1813.
(ii) The only aim of the East India Company was to earn profit by establishing monopoly trade in goods with India and East Indies.
(iii) When Bengal and South India came under the political shake of the East India Company in 1750s and 1760s, the objective of monopoly trade was fulfilled.
(iv) The company generated huge surpluses which were sent to England.
(v) The officers of the company were unscrupulous and corrupt.

Introduction:
(i) The main objective of economic planning was social welfare. Before Independence commercial banks were in the private sector.
(ii) These commercial banks failed in helping the government to achieve the objectives.
(iii) So the government nationalised 14 major commercial banks in 1969 and 6 more in 1980.
Objectives:
(i) The main objective was to attain social welfare.
(ii) Agriculture, small & village industries were in need of funds for their expansion.
(iii) Nationalisation of banks helped to curb private monopolies in order to ensure a smooth supply of credit to socially desirable sections.
(iv) In India 70% population live in villages.
(v) It was needed to encourage the banking habit among the rural population.
(vi) It was required to reduce the regional imbalances where the banking facilities were not available.
(vii) Before Independence the number of banks were less.
(viii) After nationalization, new bank branches were opened in rural and urban areas.
(ix) Banks created credit facilities to the agriculture sector and its allied activities.

Introduction :
(i) Small scale industries play an important role for the development of Indian economy.
(ii) 60 - 70% of total innovations in India comes from SSIs.
Provides employment:
(i) SSIs use labour intensive techniques.
(ii) They provide employment to artisans, technically qualified persons and professionals, people engaged in traditional arts, people in villages and unorganized sector.
(iii) The employment-capital ratio is high.
Brings balanced regional development:
(i) SSIs are set up in backward and rural areas.
(ii) This promotes decentralised development of industries.
(iii) They reduce congestion, slums, sanitation and pollution in cities since they are found outside city limits.
(iv) They improve the standard of living of people in suburban and rural areas
(v) The entrepreneurial talent is tapped from different regions.
Helps in mobilization of local resources:
(i) SSIs mobilize and use local resources like small savings, entrepreneurial talent etc of the entrepreneurs which might have remained idle.
(ii) It promotes traditional family skills and handicrafts.
Paves for optimisation of capital:
(i) SSIs needs less capital. They give quick profit due to shorter gestation period.
(ii) SSIs functions as a stabilizing force by providing high output-capital ratio and high employment capital ratio.
(iii) They encourage people living in rural areas to save and channelize them into industrial activities.
Promotes export:
(i) Since they do not need sophisticated machinery, import of machinery from abroad is not needed.
(ii) There is great demand for goods produced by SSIs.
(iii) They reduce the pressure on balance of payment as they earn foreign exchange
Complements large scale industries:
(i) They provide components, parts, accessories to large scale industries.
(ii) They serve as ancillaries to large scale units.
Meets consumer demand:
(i) SSIs produce a wide range of consumer products.
(ii) They serve as an anti-inflationary force by providing goods of daily use.
Develops entrepreneurship:
(i) SSIs help to develop entrepreneurs.
(ii) They help the job seekers to become job givers.
(iii) They promote self-employment and a spirit of self-reliance.
(iv) It increases the per capita income of India.
(v) There is development of backward areas and weaker sections.
(vi) It helps in equitable distribution of income.