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Which of the following statements is NOT correct regarding the Second Five Year Plan of India?  I. It began in 1963. II. It focused on rapid industrialization. III. It was developed by P.C. Mahala Nobis. 

Which of the following statements is NOT correct regarding the Second Five Year Plan of India?  I. It began in 1963. II. It focused on rapid industrialization. III. It was developed by P.C. Mahala Nobis.  Correct Answer Only I

The correct answer is Only I.

Key Points

  • The Second Five Year Plan of India was set on the path of industrialization.
  • P.C. Mahalanobis was the moving spirit behind it. He gave the highest priority to strengthening the industrial base of the economy.
  • The Second Five Year Plan was made for the duration of 1956 to 1961, under the leadership of Jawaharlal Nehru.
  • Objectives of the Second Five Year Plan were:
    • A sizeable increase in national income so as to raise the level of living.
    • The rapid industrialization of the country with particular emphasis on the development of basic and key industries.
    • A large expansion of employment opportunities by developing labour-intensive projects and small scale industries.
    • Reduction in inequalities of income and distribution.
    • To attain an annual growth rate of 5%.
  • However, the plan was criticized by many experts and as a result, India faced a payment crisis in the year 1957.

 Thus, we can say that the Second Five Year Plan did not begin in the year 1963 but in 1956.

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