The increase in the volume of imports during the Third Five Year Plan, that is from 1961-1962 to 1965-1966 was due to 1. Rapid industrialization necessitated larger imports of machinery, equipment industrial raw materials, etc. 2. The defence needs increased following aggression by China and Pakistan. 3. Extensive crop failure in 1965-66 necessitated the import of a large quantity of food grains. 4. Imports are anti-inflationary because they reduce the scarcity of consumer goods. Select the correct answer using the codes given below:
Asked in KPSC KAS Prelims 2014 · Topic: Planning (Objectives of Economic Planning (Growth, Equity, Self-reliance, Poverty Alleviation))
More Economic Development questions
- 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 ?
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