Option (4) is correct.

The eighth plan was postponed by two years because of political uncertainty at the centre, worsening balance of payment position and inflation during 1990-91. These were the key issues during the launch of the plan. The plan undertook drastic policy measures to combat the bad economic situation and to undertake an annual average growth of 5.6% Some of the main economic outcomes during the eighth plan period were rapid economic growth, high growth of agriculture, allied sector and manufacturing sector, growth in exports and imports and improvement in trade and current account deficit.

The Janta Government terminated the fifth five year plan in 1977-78 and launched its own sixth five year plan for the period 1978-83, and called it a Rolling Plan. 

The Hindu Rate of Growth refers to the low annual growth rate of the socialist economy of India before 1991, which stagnated around 3.5% from 1950s to 1980s, while per capita income growth averaged 1.3%. 

Correct Answer: 1 and 3

The economic liberalisation in India refers to ongoing economic reforms in India that started on July 24, 1991. After Independence in 1947, India adhered to socialist policies. Attempts were made to liberalise the economy in 1966 and 1985. The first attempt was reversed in 1967. Thereafter, a stronger version of socialism was adopted. Second major attempt was in 1985 by Prime Minister Rajiv Gandhi.

Option (3) is the correct answer. 

India’s Second Five-Year Plan (1956-61):- The second plan was to set India on the path of industrialization. P.C. Mahalanobis was the moving spirit behind the second five year plan. He gave the highest priority to strengthening the industrial base of the economy. It was in this light that the 1948 Industrial Policy Resolution was revised and the new resolution of 1956 was adopted. There was emphasis on the expansion of the public sector and establishment of a socialistic pattern of society.