Which of these statements about the Bombay Plan is incorrect?
(a) It was a blueprint for India’s economic future.
(b) It supported state-ownership of industry.
(c) It was made by some leading industrialists.
(d) It supported strongly the idea of planning.
The incorrect statement is A. It was blueprint for India’s economic future.
Explanation: Bombay Plan was a joint initiative of some big industrialists of setting up a planned economy for the country, because every investor or industrialist prefers an open economy where state control is minimum.
Objectives of Bombay plan:
1. The Bombay Plan wanted the state to take major initiatives in industrial and other economic investments.
2. proposed for setting up a planned economy in the country.