Question

Consider the following statements regarding Indian Planning:

1. The Second Five-Year Plan emphasized on the establishment of heavy industries.

2. The Third Five-Year Plan introduced the concept of import substitution as a strategy for industrialization.

Which of the statements given above is/are correct?

(a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2

Answer 1

(a) India's Second Five-Year Plan (1956-61) was to set India on the path of industrialisation. P.C. Mahalanobis was the moving spirit behind the second five year plan. He gave the highest priority to strengthening the industrial base of the economy. India's Third Five-Year Plan (1961-66) emphasised on long-term development.