GyanGramWith reference to India’s Five-Year Plans, which of the following statements is/are correct? 1. From the Seco…
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With reference to India’s Five-Year Plans, which of the following statements is/are correct?
1. From the Second Five-Year Plan, there was a determined thrust towards substitution of basic and capital goods industries.
2. The Fourth Five-Year Plan adopted the objective of correcting the earlier trend of increased concentration of wealth and economic power.
3. In the Fifth Five-Year Plan, for the first time, the financial sector was included as an integral part of the Plan.
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• Correct Answer: A
• The Second Plan (Mahalanobis model) emphasized heavy and capital goods industries for self-reliance.
• The Fourth Plan aimed to correct the concentration of wealth and economic power through growth with stability and social justice.
• The financial sector was not included as an integral part for the first time in the Fifth Plan, making statement 3 incorrect.
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