India's first five-year plan was launched in ______.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 1951
Launched in 1951, the First Five-Year Plan was primarily concerned with the growth of the primary economy.
- Although there was a shortfall in Plan outlays, the actual increase in national income during the First Plan period was over 18%, compared to the estimated 11–12% increase.
- In an environment of economic and financial stability, the First Plan's success led to the formulation of the Second Plan with more audacious objectives and a daring strategy.
- The primary goals of the Second Plan include a 25 percent rise in real national income between 1956–1957 and 1960–1961; a significant increase in employment opportunities; a swift industrialization process; and a decrease in economic disparities.