Question

Modernization is an important economic planning objective that focuses on ................ (Choose the correct option to fill in the blank) (i) Adoption of innovative technology
(ii) Bringing positive change in social outlook
(iii) Equal distribution of income and wealth
(iv) Abolition of intermediaries

• A. (i) and (iv)
• B. (i) and (iii)
• C. (i), (iii) and (iv)
• D. (i) and (ii)

Hint:

Modernization is not only about using new technology but also about transforming traditional attitudes into more rational and progressive thinking to match a developing economy.

Answer 1

The Correct Option is D

Modernization in economic planning means using new and improved methods, especially advanced technology and updated tools, to boost productivity and efficiency.
(i) Utilizing innovative technology is central, involving advanced machinery, digital tools, and modern production methods.
(ii) Fostering positive social change is also key, promoting gender equality, education, scientific thought, and reducing outdated beliefs.
However, (iii) Fair distribution of income and wealth and (iv) Eliminating intermediaries focus on social justice and institutional changes, not directly on modernization.
Thus, only statements (i) and (ii) are accurate.