UPSC Prelims 2019 – Question 70

Here is Question No. 70 a part of our series on UPSC Prelims 2019

Q70. 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 basicand 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:

(a) 1 and 2 only

(b) 2 only

(c) 3 only

(d) 1, 2 and 3

Answer: A

• Statement 1 is 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.
• Statement 2 is correct: The Fourth Five-Year Plan getting its inspiration from the Directive Principles of State Policy sought to move further on setting up the society on Socialistic Patterns in which it adopted means to prevent concentration of wealth and economic power.
• Statement 3 is not correct: Fifth five-year plan aims at removal of poverty and achievement of self-reliance. The Eighth five-year plan focused on financial sector reforms.

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