India followed a planned economy from the time of independence Consider the following statements 1 ...........

Download Solution PDF

India followed a planned economy from the time of independence. Consider the following statements.

1. India‘s plans were of five years and lacked a perspective approach.

2. Directive principles of Indian constitution reflect the planned outlook of India.

3. Our five year plans do not spell out how much of each and every good and service is to be produced.

Select the correct statements using codes below.

Only 2

2 and 3

1 and 3

All the above

Explanation:

Our plan documents not only specify the objectives to be attained in the five years of a plan but also what is to be achieved over a period of twenty years. This long-term plan is called ‘perspective plan’. The five year plans are supposed to provide the basis for the perspective plan.