UPSC Previous Year Question | Prelims GS | 2019

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 good 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. Select the correct answer using the code given below.

  1. 1 and 2 only
  2. 2 only
  3. 3 only
  4. 1, 2 and 3

Answer

Correct Answer

1 and 2 only

Explanation

The Second Plan (Mahalanobis model) emphasised heavy/basic and capital goods industries, and the Fourth Plan sought to correct the trend of concentration of wealth and economic power. The Fifth Plan (Garibi Hatao, self-reliance) is not the one in which the financial sector was first made an integral part of planning, so statement 3 is incorrect.

Topics: five-year plans, indian economy, objectives of individual plans, planning