The Five-Year Plans of India were adopted from which nation?
Show answer & explanation
Correct answer: C
Explanation
Solution: The correct answer is The former Soviet Union.
Explanation:
☛ India's concept of Five-Year Plans was borrowed from the former Soviet Union (USSR).
☛ Soviet leader Joseph Stalin introduced the world's first Five-Year Plan in 1928 to rapidly industrialize the USSR.
☛ India's first Prime Minister, Jawaharlal Nehru, was deeply influenced by the socialist model of centralized economic planning.
☛ Following independence, India set up the Planning Commission on 15 March 1950 to formulate economic plans.
☛ The First Five-Year Plan was launched in 1951, covering the period from 1951 to 1956.
Extra Exam-Relevant Facts:
☛ First Five-Year Plan (1951–1956): Based on the Harrod-Domar Model, focusing primarily on agriculture, irrigation, and power.
☛ Second Five-Year Plan (1956–1961): Based on the P.C. Mahalanobis Model, emphasizing rapid industrialization and heavy industries.
☛ Twelfth Five-Year Plan (2012–2017): This was the last Five-Year Plan of India, with the theme "Faster, More Inclusive and Sustainable Growth".
☛ NITI Aayog: On 1 January 2015, the Planning Commission was replaced by the NITI Aayog (National Institution for Transforming India).
☛ United States of America: The Indian Constitution borrowed Fundamental Rights, Judicial Review, and the Preamble from the USA.
☛ Great Britain: The Parliamentary form of government, Rule of Law, and Single Citizenship were borrowed from the UK.
Important One-Liners for Upcoming Exams:
☛ Who was the first Chairman of the Planning Commission of India? → Jawaharlal Nehru
☛ Which Indian body was established in August 1952 to approve the Five-Year Plans? → National Development Council (NDC)
☛ During which period was the 'Plan Holiday' declared in India? → 1966 to 1969
☛ In which Five-Year Plan was the slogan 'Garibi Hatao' introduced? → Fifth Five-Year Plan
☛ Who served as the first Vice-Chairman of the Planning Commission? → Gulzarilal Nanda