Rapid industrialization The Third Plan focused on building heavy industries, which required substantial imports of capital goods, machinery, and raw materials as India's domestic industrial base was still developing. 2. Defence needs This period witnessed conflicts with China (1962) and Pakistan (1965). Defence expenditure soared, leading to increased imports of arms, equipment, and related supplies. 3. Crop failure The severe drought and agricultural crisis in 1965-66 led to widespread food shortages, necessitating massive imports of food grains, particularly from the USA under the PL-480 program. These three factors significantly boosted the import bill and volume during the Third Plan. 129. Which one of the following statements regarding the objectives of the Second Five-Year Plan is not correct ?

Asked in UPSC NDA 1 2024 · Topic: Planning (Objectives of Economic Planning (Growth, Equity, Self-reliance, Poverty Alleviation))

1. Development of the basic and heavy industry sector
2. Increase in national income to raise living standards
3. Expansion of the consumer goods sector
4. Expansion of employment opportunities

More Economic Development questions

• The call for Garibi Hatao was incorporated in
• Which of the following was not a part of 11th five year plan inclusive growth strategy ?
• What was the priority of the First Five Year Plan ?
• Which plan among the following declared its objective of self-reliance and zero net foreign aid?
• Target for annual growth rate of Gross Domestic Product during the Eleventh Five Year Plan Is:
• The % growth rate for the 9th five year plan has been targeted:
• "Garibi Hatao" was introduced during which Five Year Plan?
• Which of the following was the basic objective of the Twelfth Five Year Plan?

All 3,293 Economic Development questions →