ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mr. Jawaharlal Nehru
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Mrs. Indira Gandhi
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Mr. Atal Bihari Vajpayee
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Dr. Manmohan Singh
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Detailed explanation-1: -The First Five-year Plan was launched in 1951 which mainly focused in the development of the primary sector. The First Five-Year Plan was based on the Harrod–Domar model with few modifications. This five years plan’s president was Jawaharlal Nehru and Gulzarilal Nanda was the vice-president.
Detailed explanation-2: -The first five-year plan was presented and implemented by Jawaharlal Nehru, India’s first Prime Minister. It was launched in 1951, and its objective was to uplift the economic condition of India by mainly focusing on improving the standard of the primary sector.
Detailed explanation-3: -The first five year plan was introduced by Joseph Stalin in the USSR in 1928.
Detailed explanation-4: -The First Five-Year Plan was quasi-successful for the government. The targeted growth rate in the first Five-Year Plan was 2.1% Gross Domestic Product (GDP) every year, and the achieved growth rate was 3.1%. Foodgrain production increase from 52.2 million tonnes in 1951 to 67 million tonnes in 1956.