Question : Statement 1: India announced its First Five Year Plan in the year 1951.
Statement 2: In India, the overall objectives of the Five Year Plans focused on the socialistic pattern of society.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true and Statement 2 is false.
Option 4: Statement 2 is true and Statement 1 is false.
Correct Answer: Both statements are true.
Solution : The correct option is (a) Both statements are true.
Statement 1 is true. India announced its First Five Year Plan in the year 1951. The First Five Year Plan marked the beginning of India's planning process for economic development and aimed to lay the foundation for rapid industrialization and economic growth.
Statement 2 is also true. The overall objectives of India's Five Year Plans did focus on the socialistic pattern of society. The plans aimed to reduce poverty, promote equitable distribution of resources, and develop key sectors of the economy in line with socialist principles.




