Harrod Domar growth model is known for highlighting the role of savings and investments. Which Five-Year Plan in India was based on this model?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. First.
The Harrod-Domar growth model was the basis for India’s First Five-Year Plan, which was implemented from 1951 to 1956. This model highlighted the role of savings and investments in driving economic growth and was used to shape the planning and development strategies during that period.
The First Five-Year Plan marked the beginning of India’s structured approach to economic development and planning, with the Harrod-Domar model providing a framework for understanding the relationship between investment, savings, and economic growth.