Choose the given statement is true or false;

Stalin assumed power in 1924 and enacted significant reforms in the industrial sector.

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False

True

answer is A.

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Detailed Solution

The above statement is true;
Stalin took over when Lenin died in 1924 and established the Five-Year Plan. Centralised planning became available. After officials assessed how the economy may work, a five-year plan of goals was devised. Centralised planning resulted in economic growth. Stalin initially followed Lenin's nationalisation agenda. During his presidency, many corporations and banks were nationalised. To foster the expansion of the industry, the government decided to fix the prices of all industrial items. The iron and steel sector was given a boost as a primary industry, and its expansion was thus put to unique stress.

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