Question

Which of the following Five Year Plans focused on rapid industrialization-heavy and basic industries, and advocated for a socialistic pattern of society as the goal of economic policy?

• A. 1 ^st Five Year Plan (1951-56)
• B. 2 ^nd Five Year Plan (1956-61)
• C. 3 ^rd Five Year Plan (1961-66)
• D. 4 ^th Five Year Plan (1969-74)

Answer 1

The Correct Option is B

The question asks which Five Year Plan in India focused on rapid industrialization with an emphasis on heavy and basic industries, and advocated for a socialistic pattern of society. To answer this, let's explore the characteristics of each plan:

1. 1^st Five Year Plan (1951-56): Focused primarily on agriculture and irrigation to address the food crisis and was aimed at basic capital goods sector establishment.
2. 2^nd Five Year Plan (1956-61): This plan emphasized rapid industrialization, particularly in heavy and basic industries such as steel, with the aim of establishing a socialistic pattern of society. Led by economist P.C. Mahalanobis, this plan aimed to make India self-reliant by boosting public sector enterprises and reducing dependency on imports.
3. 3^rd Five Year Plan (1961-66): Aimed at achieving self-sufficiency in food grains and addressed problems related to economic and social development, but this plan was disrupted due to the war with China and a severe drought.
4. 4^th Five Year Plan (1969-74): Focused on growth with stability and progressive achievement of self-reliance.

Based on the analysis, the 2^nd Five Year Plan (1956-61) is the correct answer as it emphasized rapid industrialization, particularly in the heavy industries sector, and advocated for a socialistic pattern of society. Other plans had different focal areas like agriculture, economic stability, and infrastructure rather than the concentrated industrialization approach of the second plan.