Economics · Five Year Plans
Examine the following statements regarding the objectives and outcomes of the first three Five Year Plans in India: 1. The First Five Year Plan (1951-1956) successfully achieved its agricultural targets, leading to the establishment of the Indian Institutes of Technology (IITs). 2. The Second Five Year Plan (1956-1961) prioritised heavy industry, resulting in a foreign exchange crisis and a high increase in inflation during its tenure. 3. The Third Five Year Plan (1961-1966), known as the Gadgil Yojana, explicitly aimed for a 'self-generating' and self-reliant economy but was severely impacted by the Indo-Pak conflict of 1965 and internal political instability. Which of the statements given above are correct?
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