Economics · Economic Planning in India

Considering the historical context of Indian economic planning from the First Plan (1951-1956) to the Twelfth Plan (2012-2017), which combination of the following observations correctly identifies the substantive policy turning points? 1. The introduction of P.C. Mahalanobis's strategy during the Second Plan established the initial structure of a large public sector and laid the foundation for capital goods production. 2. The Plan Holidays period (1966-1969) forced a pragmatic focus on agricultural self-reliance (Green Revolution) and export promotion via rupee devaluation. 3. The Fifth Plan's focus on 'Garibi Hatao' represented a major shift toward an equity and poverty-centric strategy in plan objectives. 4. The 1991-1992 Annual Plans marked the structural turning point ending the License-Permit Raj, transitioning formally to 'Indicative Planning' from the Eighth Plan onwards.