Question

The five year plan model of India is supposed to be taken from?
1. USA
2. USSR
3. UK
4. UAE

Answer 1

Correct Answer - Option 2 : USSR

The correct answer is USSR.

• The five-year plan model of India is supposed to be taken from USSR.
• A five-year plan formed the most basic unit of planning in India.
• Efforts towards economic planning in India began even prior to independence.
• Five-Year Plans (FYPs) are centralized and integrated national economic programs.
• Joseph Stalin implemented the first FYP in the Soviet Union in the late 1920s.

• The planning commission was formed on 15 March 1950.
  • The First Five-year plan was based on the Harrod-Domar Model.
  • The Second Five-year plan followed the Prasanta Chandra Mahalanobis development model.
  • The Planning Commission was dissolved on 17 August 2014 and replaced by Niti Aayog.