Choose the given statement that is true/false.

Governments in less developed countries should spend more of their budgets on developing industries and economic infrastructure and not on the primary sector.

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True

False

answer is B.

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Detailed Solution

This statement is false.
Governments in the least developed countries should spend their budgets in such a way that balanced growth can occur. Just spending on secondary sectors like industries and manufacturing will often lead to ignorance of the primary sector, mainly the agriculture sector. Industries, no doubt, are essential for GDP growth and for creating a productive workforce as well as good income opportunities for the people but neglecting the agriculture sector and the social sector as well like education, healthcare, and other problems like poverty reduction, will not let the economy grow sustainably. Instead, following a balanced strategy that can promote education, reduce poverty and develop the agriculture sector with industrial development can even help industries get educated and healthy human capital resources.
The correct statement is governments in less developed countries should spend more of their budgets on the primary sector.

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