Question

Which of the following statements is/are correct in context to the 'Five Year Plans' in India?

• A. The first five year plan in independent India began in 1951.
• B. Five year plan did not focus on growing and transforming the economy.
• C. The Industrial Licensing Policy was a result of the first five Year plan.
• D. The fourth five year plan focused on the paper, pharmaceutical and textile industry.

Answer 1

Answer: (A), (D)

The fourth five year plan focused on the paper, pharmaceutical and textile industry.

A five year plan is a method of planning to increase economic growth in a small interval of time periods. The first five year plan in independent India began in 1951. In the fourth five year plan, the government focused on the paper industry, pharmaceutical industry, motor-tractor industry, leather goods, textile industry, food processing industry, oil, colour, sugar industries, etc.
The Industrial Licensing Policy was passed in 1970 while the first Five Year Plan began in 1951.