Which of these statements about the Second Five Year Plan is incorrect?

Huge allocations were made for large-scale projects like Bhakra Nangal Dam etc.

The correct answer is Option 1 - Huge allocations were made for large-scale projects like Bhakra Nangal Dam etc

Option 1- It was drafted under the leadership of P.C Mahalanobis.
Option 2- It was drafted under the leadership of P.C Mahalanobis.
Option 3- It wanted to bring quick structural transformation by making changes in all directions.
Option 4-  It stressed on heavy industries.

Huge allocations were made for large scale projects like Bhakra Nangal Dam etc. in the FIRST FIVE YEAR PLAN, not the second five year plan.

Features of the Second Five-Year Plan (1956-1961):

Emphasized heavy industries and quick structural transformation.
Drafted by a team of economists and planners led by P.C. Mahalanobis.
The Congress party declared the goal of a "socialist pattern of society" at their Avadi session, reflected in the Second Plan.
Imposed substantial tariffs on imports to protect domestic industries.
Protected environment facilitated the growth of both public and private sector industries.
Growing savings and investment supported the development of industries like electricity, railways, steel, machinery, and communication, primarily in the public sector.
This push for industrialization marked a significant turning point in India's development.

The First Five Year:

The First Five Year Plan mainly addressed the agricultural sector, including investment in dams and irrigation. The agricultural sector was hit hardest by Partition and needed urgent attention. Huge allocations were made for large-scale projects like the Bhakhra Nangal Dam.