India is a planned lsquo socialist rsquo society with a strong public sector but also with private p...........

India is a planned ‘socialist’ society with a strong public sector but also with private property and democracy. What were the goals of five year plans in the years after India’s Independence?

1. Growth

2. Modernisation

3. Self Reliance

4. Nationalisation

5. Equity

Code:

1, 3 and 5

2, 3 and 5

1, 2, 3 and 5

All of the above

Explanation:

Ntionalization was not a goal of FIve Year Plans. It was only in the fourth plan peroiod that the Government of India issued an ordinance ('Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969') and nationalised the 14 largest commercial banks with effect from the midnight of 19 July 1969. THis was not a goal since the firstfive year plan was implemented. The broad goals of the five year plans are: growth, modernisation, self-reliance and equity.