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.
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A hard Economy multiple-choice question from UPSC Prelims 2019. Attempt it above, then check the correct answer and detailed explanation below.
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Correct answer: A. 1 and 2 only
Statements 1 and 2 are correct — the Second Plan (Mahalanobis model) stressed basic and capital-goods industries, and the Fourth Plan aimed to curb the concentration of wealth and economic power. Statement 3 is wrong.
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