Which Five-Year Plan focused on heavy industries?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. Second.
Second Five-Year Plan (1956–1961): Based on the Mahalanobis Model, the Second Plan prioritized rapid industrialization with a focus on heavy and basic industries (like steel and chemicals) to build a self-reliant domestic capital base.
Explanation of Other Options:
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First Plan (1951–1956): Focused primarily on agriculture, irrigation, and power to overcome the food crisis following independence and partition.
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Third Plan (1961–1966): Aimed for a "self-reliant and self-generating" economy, shifting focus toward agriculture while maintaining industrial growth, though it was hindered by wars.
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Fourth Plan (1969–1974): Focused on "Growth with Stability" and progressive achievement of self-reliance, significantly emphasizing the nationalization of banks and the Green Revolution.