Statement 1: Incorrect. Five-year plans in India focused on government intervention to promote balanced economic development, especially in key sectors like agriculture, industry, and infrastructure.
Statement 2: Correct. The five-year plans were designed to allow long-term government intervention to achieve planned economic goals, including reducing poverty, boosting industrial and agricultural production, and addressing social inequities.
Statement 3: Incorrect. While some plans emphasized the tertiary sector (services), they also focused on primary (agriculture) and secondary (industry) sectors, depending on the priorities of the plan.
Statement 4: Incorrect. The five-year plans were not solely market-oriented; they followed a mixed economy model, combining market mechanisms with government planning and regulation.
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