What was sought by the First Five-Year Plan launched in India?

It sought to get the country’s economy out of the cycle of poverty.

The correct answer is Option 2 - It sought to get the country’s economy out of the cycle of poverty.

The draft of the First Five-Year Plan and then the actual Plan Document, released in December 1951, generated a lot of excitement in the country.
The First Five-Year Plan (1951–1956) sought to get the country’s economy out of the cycle of poverty.
K.N. Raj, a young economist involved in drafting the plan, argued that India should ‘hasten slowly’ for the first two decades as a fast rate of development might endanger democracy.
The First Five Year Plan addressed, mainly, the agrarian sector including investment in dams and irrigation.
Huge allocations were made for large-scale projects like the Bhakhra Nangal Dam.
The Plan identified the pattern of land distribution in the country as the principal obstacle to agricultural growth.
It focused on land reforms as the key to the country’s development