GENERAL KNOWLEDGE

Detailed explanation-1: -INDIA’S FIRST FIVE YEAR PLAN covered the period from April 1951 through March 1956; the Second Five Year Plan covers the period from April 1956 through March 1961. The main objectives of planning in India are, broadly, to double real national income in less than 20 years and to double the per capita income in 25 years.

Detailed explanation-2: -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.

Detailed explanation-3: -Second Five Year Plan (1956 – 1961) The Second Five Year Plan revolved around the idea of developing the public sector and rapid industrialisation. The plan was allocated nearly 50 billion rupees in various fields to achieve targets. The scale of production and the production method was given a push for good.

Detailed explanation-4: -Subsequently, Planning Commission was set up on 15 March 1950 and the plan era started from 1 April 1951 with the launching of the First Five Year Plan (1951-56).