Comprehension Passage

Read the given passage and answer five questions on the basis of the passage:

Since the second five-year plan. the Government of India has been emphasizing on development of industry on promoting self-reliance in India. But at that time the priority was for import substitution and export promotion. Though the same phenomenon is still relevant the priority of Industrialisation has been changed. Industry helps not only self-reliance and reducing dependence on Foreign Countries but it creates massive employment for a populated country like India. The Startups India Programme started in 2014 which is hence for promoting new initiatives and in fact, industries in critical domains having strategic importance. The recognised startups have increased from 726 in FY 2016-17 to 65.861 in FY2021-22. The Startups spread across 640 districts and created jobs of more than 7 lakhs. These startups have been recently developed in new domains and sectors of strategic importance including the development of IT services, hardware technology, and software enterprises. artificial intelligence, robotics and technology of banking & finance in across 56 sectors. As on Feb. 2022. the Ministry of Commerce and Industry has allocated Rs. 2,791.29 crores to SIDBI which in turn committed Rs. 6.795 crores to 82 alternative investment funds (AIFs) while Rs. 8.785 crore have been invested by supported AIFs in 574 startups and Rs. 945 crore has been allocated under the scheme for a period of four years starting from 2021-22 to fund the startups for proof of concept. prototype. trails of products. entry of market and commercialization. However, it is important for sustaining these startups for long-term development and for the creation of employment. Continued investment in these sectors, export promotion and startup products. innovation in new sectors and the creation of domestic demands for these products are important for long-term development and attracting new startups.

What is the prioritized objective of industrialization in terms of startups initiatives?

1
Self reliance
2
Employment opportunities
3
Import expansion
4
Export reduction

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