With reference to India’s Five-year Plans, which of the following statements is/are correct ? I. From the Second Five-year Plan, there was a determined thrust towards substitution of basic and capital good industries. II. The Fourth Five-year Plan adopted the objective of correcting the earlier trend of increased concentration of wealth and economic power. III. 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.

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CollectorBabu · Accepted Answer

Correct Answer: 1 and 2 only. Only statement 1 and 2 are correct. The stated objective of the Second five-year plan was rapid industrialisation with particular emphasis on the development of basic and heavy industries - aimed at establishing the Socialistic Pattern of Society. Fourth five-year plan emphasised on reduction of concentration of incomes, wealth and economic power to achieve social equality and justice. Fifth five-year plan aims at removal of poverty and achievement of self-reliance.

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