When was the First Five-Year Plan launched in India?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 1951.
The First Five-Year Plan of India was launched in 1951.
It was a crucial and ambitious initiative that marked the beginning of India's journey towards planned economic development after gaining independence. The plan, which covered the period from 1951 to 1956, was primarily focused on addressing the immediate post-independence challenges. It aimed to rehabilitate the economy from the effects of partition and World War II and to lay a strong foundation for future growth. The plan gave top priority to the agricultural sector, including irrigation and power projects, to achieve food self-sufficiency and stabilize prices. It was based on the Harrod–Domar model and was presented to the Parliament by India's first Prime Minister, Jawaharlal Nehru.