Explanation:

Third Plan failed on the agricultural front. In contrast to the targeted increase of 30% or 6% per year in food grains a bare 10% or 2% per year was realized: at the same time, the index of food grains prices had short up from 118.4 in 1961-62 to 168.8 in 1965-66. As a consequence of the shortfall in food production food-grains worth Rs. 1.10 crores were imported between 1961-62 and 1965-66. This strained our foreign exchange position still further.