Choose the incorrect statements in the context of the 'First Five-Year Plan' of India:

(A) It addressed the agrarian sector.

(B) Investment in dams and irrigation facilities was given priority.

(C) Planners wanted to raise national income through rapid industrialisation.

(D) It was formalised by P.C. Mahalanobis.

(E) It focused on land reforms as the key to the country’s development.

C and D

The correct answer is Option 3 - C and D

The following statements are incorrect:

(C) Planners wanted to raise national income through rapid industrialisation.

(D) It was formalised by P.C. Mahalanobis.

The First Five Year Plan (1951-56) 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. The Plan identified the pattern of land distribution in the country as the principal obstacle in the way of agricultural growth. It focused on land reforms as the key to the country’s development. One of the basic aims of the planners was to raise the level of national income, which could be possible only if the people saved more money than they spent.

It was the Second FYP that stressed on heavy industries and Industrialization & was drafted by a team of economists and planners under the leadership of P. C. Mahalanobis.