The Five Year Plan was first launched in

The concept of the Five-Year Plan (FYP) as a centralized national economic program originated in the Soviet Union (USSR). Joseph Stalin implemented the first FYP in the late 1920s, specifically launching it in 1928 to focus on rapid industrialization and the collectivization of agriculture [1][3]. This model was intended to bring a "revolution from above" and transform the Soviet economy through strict production targets and state control. Following the Soviet example, other nations later adopted similar planning frameworks. India launched its First Five-Year Plan in 1951, following the pattern of the erstwhile Soviet Union to address its post-independence economic challenges [2][3]. China followed suit in 1953 with Soviet assistance, and Bhutan initiated its first plan much later in 1961. Thus, the USSR was the pioneer of this planning mechanism.

Sources

1. [1] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 6: Indian Economy [1947 – 2014] > Five Year Plans > p. 223
2. [3] https://www.britannica.com/money/Five-Year-Plans
3. [2] History , class XII (Tamilnadu state board 2024 ed.) > Chapter 9: Envisioning a New Socio-Economic Order > 9.4 Five Year Plans > p. 124