- I: To bring positive changes in the social outlook, India wanted to modernize agriculture, industry, and services to improve quality of life for its citizens.
- III: Technological upgradation was crucial for India's industrialization and modernization to ensure long-term growth.
- II: While equitable distribution of income is important, it was not the primary rationale behind choosing modernization as the main goal in India's early planning stages.
- IV: Increasing the economic divide was not a goal of modernization but rather reducing it.
Conclusion: Option (C) is the correct answer because both improving social outlook and technological upgradation were the key goals.
Read the following statements carefully:
Statement 1: Expost savings and Expost investments are equal at all levels of income.
Statement 2: Under the effective demand principle, the equilibrium output is equal to exante Aggregate Demand (AD). In the light of the given statements, choose the correct alternative from the following: