Consider the following statements about the goals of the five year plans:
(A) Growth may come from a larger stock of productive capital or from a larger size of supporting services.
(B) A good indicator of economic growth is a steady increase in the Gross Domestic Product.
(C) A factory using a new type of machine to raise output is an example of growth, not of modernisation.
(D) Modernisation includes the recognition that women should have the same rights as men.
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → (A), (B) and (D) only
(A) Growth may come from a larger stock of productive capital or from a larger size of supporting services. — Correct. These are two sources of growth.
(B) A good indicator of economic growth is a steady increase in the Gross Domestic Product. — Correct. GDP measures the country’s output.
(C) A factory using a new type of machine to raise output is an example of growth, not of modernisation. — Incorrect. Using a new machine is adoption of new technology, which is modernisation.
(D) Modernisation includes the recognition that women should have the same rights as men. — Correct. Modernisation also means a change in social outlook.
NCERT (2026-27): “2.2 The Goals of Five Year Plans … Growth: It refers to increase in the country’s capacity to produce the output of goods and services within the country. It implies either a larger stock of productive capital, or a larger size of supporting services like transport and banking, or an increase in the efficiency of productive capital and services. A good indicator of economic growth, in the language of economics, is steady increase in the Gross Domestic Product (GDP). …” “Modernisation: To increase the production of goods and services the producers have to adopt new technology. For example, a farmer can increase the output on the farm by using new seed varieties instead of using the old ones. Similarly, a factory can increase output by using a new type of machine. Adoption of new technology is called modernisation. However, modernisation does not refer only to the use of new technology but also to changes in social outlook such as the recognition that women should have the same rights as men. In a traditional society, women are supposed to remain at home while men work. A modern society makes use of the talents of women in the work place — in banks, factories, schools etc. — and such a society in most occassions is also prosperous.” |