Which of the following statement (s) is/are correct in the context of effect of Policies on Industrial Development during the first seven 5 year plans of India?

Statement 1: The proportion of GDP contributed by the industrial sector increased in the period from 5 per cent in 1950-51 to 24.6 per cent in 1990-91.

Statement 2: There was an annual growth rate of 7 percent in the industrial sector during the period. 

None of the given statement is correct.

The achievements of India’s industrial sector during the first seven plans are impressive indeed. The proportion of GDP contributed by the industrial sector increased in the period from 13 per cent in 1950-51 to 24.6 per cent in 1990-91. The rise in the industry’s share of GDP is an important indicator of development. The six per cent annual growth rate of the industrial sector during the period is commendable.