Question

In which year was the first Five-Year Plan started in India?

• A. 1948
• B. 1950
• C. 1951
• D. 1956

Hint:

The Second Five-Year Plan (1956--61) focused on heavy industries (Mahalanobis model). The 12th Five-Year Plan (2012--17) was the last one; thereafter, NITI Aayog replaced the Planning Commission.

Answer 1

The Correct Option is C

Step 1: Understanding the Concept:
After independence, India adopted the model of five-year planning to achieve organized economic growth.
The Planning Commission was established in 1950 to formulate these plans.
Step 2: Detailed Explanation:
The first Five-Year Plan was launched in 1951 and lasted until 1956.
It focused primarily on the development of the agricultural sector, as the country was facing acute food shortages at the time.
The plan was based on the Harrod-Domar model and aimed at increasing the rate of investment.
Step 3: Final Answer:
The first Five-Year Plan officially commenced in the year 1951.