Which one of the following statements about the Bombay Plan is not correct?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → It supported state ownership of industry and agriculture.
Option (1) It was a blueprint for India’s economic future. True. It was a joint proposal for setting up a planned economy in the country.
Option (2) It supported the idea of planning. True. Even a section of the big industrialists, usually averse to planning, supported planning through this plan.
Option (3) It supported state ownership of industry and agriculture. False. The Bombay Plan wanted the state to take major initiatives in industrial and other economic investments; it did not ask for state ownership of industry and agriculture.
Option (4) It was created by some leading industrialists. True. A section of the big industrialists got together in 1944 and drafted it.
Tip: This question comes almost word for word from the exercise at the end of the chapter; NTA only added ‘and agriculture’. Working through the end-of-chapter exercises pays off.
NCERT (2025-26): “Planning Commission … We commonly assume that private investors, such as industrialists and big business entrepreneurs, are averse to ideas of planning: they seek an open economy without any state control in the flow of capital. That was not what happened here. Rather, a section of the big industrialists got together in 1944 and drafted a joint proposal for setting up a planned economy in the country. It was called the Bombay Plan. The Bombay Plan wanted the state to take major initiatives in industrial and other economic investments.…”
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