The 'Rolling Plan' was a series of economic plans implemented by the Indian government in the 1970s, in an effort to promote economic growth and development in the country. The first rolling plan was introduced in 1978, and it continued until 1980.

The rolling plan was a departure from the earlier Five-Year Plans, which had a fixed period of implementation and were designed to achieve specific targets and goals within that period. The rolling plan, on the other hand, was a more flexible approach, which allowed for adjustments and modifications based on changing circumstances and priorities.

The rolling plan was introduced against the backdrop of a difficult economic situation in India, characterized by high inflation, low growth, and balance of payments problems. The government of India hoped that the rolling plan would provide a more effective mechanism for addressing these issues and promoting sustainable economic development.

The rolling plan had several key objectives, including increasing agricultural productivity, promoting industrial growth, expanding employment opportunities, and reducing poverty and inequality. To achieve these goals, the plan focused on a range of policy measures, including investment in infrastructure, encouragement of foreign investment, and promotion of small and medium enterprises.

Despite its ambitious goals, the rolling plan faced a number of challenges during its implementation. The global economic situation was unfavorable, with rising oil prices and a recession in the United States, which impacted India's trade and balance of payments. In addition, political instability and social unrest also posed challenges to the implementation of the plan.

Despite these challenges, the rolling plan had some notable achievements, including an increase in agricultural production and a significant expansion of the industrial sector. The plan also helped to promote greater self-reliance in key sectors such as energy and technology.

Inconclusion, the rolling plan was introduced in India in 1978 as a flexible approach to economic planning and development. It focused on a range of policy measures aimed at promoting sustainable economic growth and development, but faced several challenges during its implementation. Despite these challenges, the plan had some notable achievements and represented an important step in India's economic development.