In which year was the first Five-Year Plan started in India?
Show Hint
- 1948
- 1950
- 1951
- 1956
The Correct Option is C
Solution and Explanation
After independence, India adopted a planned economy model with Five-Year Plans to guide the allocation of resources and development priorities.
Step 2: Detailed Explanation:
The First Five-Year Plan was launched in 1951 by the Planning Commission of India, under the chairmanship of Prime Minister Jawaharlal Nehru. It covered the period 1951--56 and primarily focused on agricultural development and rehabilitation of refugees. It was based on the Harrod-Domar model of growth.
Step 3: Final Answer:
The First Five-Year Plan was started in 1951.
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