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In the context of the planning era i.e. 1951 to 2011, take into consideration the following statements : a. Food production increases fourfold, diversified industrial growth takes place. b. Import substitution, diversified export promotion and science and technical educational expansion takes place. c. Achievement in reducing poverty and unemployment ratio. d. Reduction in the concentration of economic power, decentralization of income and wealth takes place. Which of the above statements are true?

In the context of the planning era i.e. 1951 to 2011, take into consideration the following statements : a. Food production increases fourfold, diversified industrial growth takes place. b. Import substitution, diversified export promotion and science and technical educational expansion takes place. c. Achievement in reducing poverty and unemployment ratio. d. Reduction in the concentration of economic power, decentralization of income and wealth takes place. Which of the above statements are true? Correct Answer a and b

The correct answer is a and b.

Key Points

  • In five year plans from 1951 to 2011:
    • First, five-year plan 1951 to 1956 to Eleventh five year plan from 2007 to 2012.
    • Food production increased fourfold, diversified industrial growth took place.
    • Import substitution, diversified export promotion, and science and technical educational expansion took place.
    • Hence a and b are true.
  • Poverty and unemployment ratio reduced. 
  • The target of reduction in the concentration of economic power, decentralization of income, and wealth took place was not achieved.
  • As per data from the Multi-dimensional poverty index India ranks 102 out of 117 countries
  • As per data from the Oxfam report, India's richest 1 percent hold more than 70 percent of the country's population.

  • Hence c and d are not true.

Important Points

  • The First Five-year Plan was launched in 1951 which mainly focused on the development of the primary sector.
  • The Second Five-year Plan focused on the development of the public sector and "rapid Industrialisation". 
  • The Third Five-year Plan stressed agriculture and improvement in the production of wheat.
  • The Fourth Five-year Plan: government nationalized 14 major Indian banks
  • The Fifth Five-Year Plan laid stress on employment, poverty alleviation (Garibi Hatao), and justice.
  • The Sixth Five-Year Plan marked the beginning of economic liberalization
  • The Seventh Five-Year Plan was to establish growth in areas of increasing economic productivity, production of food grains, and generating employment through "Social Justice".
  • The Eighth Five-Year Plan Modernization of industries and New Economy Policy.
  • The Ninth Plan tried primarily to use the latent and unexplored economic potential of the country to promote economic and social growth.
  • The Tenth Five Year Plan
    •  Reduction of poverty rate by 5% by 2007.
    • Providing gainful and high-quality employment at least to the addition to the labour force.
    • Reduction in gender gaps in literacy and wage rates by at least 50% by 2007.
  • The Eleventh Five Year Plan
    • Rapid and inclusive growth (poverty reduction).
    • Emphasis on the social sector and delivery of service therein.
    • Empowerment through education and skill development.
    • Reduction of gender inequality.
    • Environmental sustainability.

Related Questions

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