Which year marked the beginning of India’s First Five-Year Plan?
Show answer & explanation
Correct answer: C
Explanation
The answer is 1951.
Explanation:
- Model: This plan was primarily based on the Harrod-Domar Model.
- Main Objective: To revitalize the country's economy following the Partition and the Second World War. Its primary focus was on the agricultural sector, with priority given to irrigation and power projects.
- Achievements: During this very plan, the foundations for major dams such as Bhakra-Nangal and Hirakud were laid. Additionally, five Indian Institutes of Technology (IITs) were established.
- Outcome: This plan was highly successful. The government had set a target of 2.1% annual GDP growth, but the actual growth achieved was 3.6%.
Additional Points:
- Presentation: It was presented in Parliament in December 1951 by India's then-Prime Minister, Jawaharlal Nehru.
- Planning Commission: This plan was formulated by the Planning Commission, which has now been replaced by NITI Aayog.
- Next Plan: The Second Five-Year Plan (1956–61) was based on the P.C. Mahalanobis Model and focused on heavy industries.
Potential Questions and Answers:
Question: Which sector was the primary focus of the First Five-Year Plan?
Answer: Agriculture and Irrigation.
Question: What was the period of the 'Plan Holiday' in India?
Answer: From 1966 to 1969 (between the Third and Fourth Plans).