Correct Option (c):
Statements 2, 3, and 4 are correct.
- Statement 2 (Lack of savings to invest): A significant portion of the Indian population has low per capita income, which limits household savings. This constrains domestic capital formation, a crucial requirement for industrial investment and expansion.
- Statement 3 (Lack of technology, skills and infrastructure): Deficiencies in technological adoption, inadequate vocational skills among the workforce, and underdeveloped infrastructure (e.g., power, transport, logistics) impede industrial efficiency, productivity, and global competitiveness.
- Statement 4 (Limited purchasing power among the larger masses): A substantial segment of the population possesses low disposable income. This limits their purchasing power, thereby constraining domestic demand for industrial products, particularly consumer goods, which can hinder industrial growth.
Incorrect Options:
- Statement 1 (Lack of adequate entrepreneurship and leadership in business): India has a demonstrated history of entrepreneurship and a growing startup ecosystem. While challenges like regulatory hurdles, access to credit, and market entry barriers exist, a general 'lack of entrepreneurship and leadership' is not considered a primary overarching constraint on industrial development. The focus is often on facilitating and enabling existing entrepreneurial spirit rather than a fundamental absence of it.