GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1950
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1961
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1951
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1960
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Detailed explanation-1: -7.2 Though the planned economic development in India began in 1951 with the inception of First Five Year Plan, theoretical efforts had begun much earlier, even prior to the independence.
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: -The first five year plan was created in order to initiate rapid and large-scale industrialization across the Union of Soviet Socialist Republics (USSR). Having begun on October 1st, 1928, the plan was already in its second year when Harry Byers first set foot in the Soviet Union.