Which one of the following statements is NOT correct in the context of economic planning in India?
Tap an option to check your answer.
2 marks, −0.667Indian EconomyPlanning, reforms and liberalisationFive Year Plans and planning modelsModerateabout 1 min
IIT JAM 2021 Question 25: Planning, reforms and liberalisation
Answer and worked solution
Answer: (B)
The First Five Year Plan gave priority to agriculture, irrigation and power, not to industry. It was the Second Plan (the Mahalanobis strategy) that put heavy industry first.
So the claim that industry received the highest sectoral allocation in the First Plan is NOT correct. The answer is (B).
The trap: (A) In the investment strategy for the Second Five Year Plan, a high priority was accorded to the development of heavy capital goods industries over light industries
Statement (A) about the Second Plan's heavy-industry priority is accurate; the incorrect claim is placing the peak industrial allocation in the First Plan.
Planning, reforms and liberalisation has come up 62 times in 6 exams since 2010.
What this question tests
This question is on Five Year Plans and planning models, part of Planning, reforms and liberalisation in Indian Economy.
How India planned its development from 1951 and the models behind the plans.
TestStop has 20 past-paper questions on this subtopic; the nearest in year are below.
Question from the IIT JAM 2021 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.