In the given question, a statement of Assertion is followed by a statement of Reason. Mark the correct answer.

Assertion: The Bombay Plan was drafted by big industrialists in 1944.

Reason: The Bombay Plan wanted the state to refrain from taking any major initiatives in industrial and other economic investments.

The Assertion is correct but the Reason is incorrect.

The correct answer is Option 4 - The Assertion is correct but the Reason is incorrect.

Assertion: The Bombay Plan was drafted by big industrialists in 1944.(correct)

Reason: The Bombay Plan wanted the state to refrain from taking any major initiatives in industrial and other economic investments. (Incorrect)

The Bombay Plan:

The Bombay Plan was a significant economic and industrial development proposal formulated by a group of prominent Indian industrialists and and big business entrepreneurs in 1944.
The Bombay Plan emphasized the need for a planned economy with an active role for the state in industrial and economic development.
It proposed measures such as the expansion of key industries, the promotion of domestic capital investment, the establishment of public sector enterprises, and the development of infrastructure.