Practicing Success
Given below are two statements: Statements I: The second five year plan stressed on heavy Industries. Statements II: It declared that socialist pattern of society was its goal. In the light of the above statements, choose the most appropriate answer from the options given below. |
Both statement I and statement II are correct Both statement I and statement II are incorrect Statement I is correct but statement II is incorrect Statement I is incorrect but statement II is correct |
Both statement I and statement II are correct |
The correct answer is Option 1 - Both statement I and statement II are correct The Second FYP stressed on heavy industries (Statement I). It was drafted by a team of economists and planners under the leadership of P. C. Mahalanobis. If the first plan had preached patience, the second wanted to bring about quick structural transformation by making changes simultaneously in all possible directions. Before this plan was finalised, the Congress party at its session held at Avadi near the then Madras city, passed an important resolution. It declared that ‘socialist pattern of society’ was its goal. This was reflected in the Second Plan (Statement II). The government imposed substantial tariffs on imports in order to protect domestic industries. Such protected environment helped both public and private sector industries to grow. As savings and investment were growing in this period, a bulk of these industries like electricity, railways, steel, machineries and communication could be developed in the public sector. Indeed, such a push for industrialisation marked a turning point in India’s development. |