Which of the following statements is correct about the Five-Year Plan?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. The first Five-Year Plan was started in 1951.
- The First Five-Year Plan in India was launched in 1951 and covered the period from 1951 to 1956.
- It was focused on the agricultural sector, aiming to increase food production, improve irrigation, and address the challenges of food security in the country.
- The plan was largely based on the Harrod-Domar model, which emphasized investment in key areas to spur economic growth.