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Q77 (NDA-II/2024) Economy › Basic Concepts & National Income Official Key

Before the inception of the First Five year Plan, which among the following Plans were initiated in India ? 1. Bombay Plan 2. Peoples Plan 3. Sarvodaya Plan 4. Gandhian Plan Select the answer using the code given below :

Explanation

All four plans mentioned were significant precursors to formal economic planning in India, which officially began with the First Five-Year Plan in 1951. Their details are as follows:

  • Bombay Plan (1944): Formulated by eight leading industrialists (including J.R.D. Tata and G.D. Birla), it proposed a doubling of per capita income and emphasized state intervention in heavy industries.
  • Gandhian Plan (1944): Drafted by Shriman Narayan Agarwal, it prioritized decentralization, rural development, and the promotion of cottage industries.
  • People’s Plan (1945): Drafted by M.N. Roy on behalf of the Indian Federation of Labour, it focused on the nationalization of land and prioritized agriculture and consumer goods.
  • Sarvodaya Plan (1950): Formulated by Jai Prakash Narayan, it was inspired by Gandhian principles and Vinoba Bhave’s ideas, advocating for self-sufficiency and land reforms.

Since all these plans were initiated between 1944 and 1950, Option D is correct.

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SIMILAR QUESTIONS

IAS · 2019 · Q70 Relevance score: 2.69

With reference to India's Five-Year Plans, which of the following statements is/are correct? 1. From the Second Five-Year Plan, there was a determined thrust towards substitution of basic and capital good industries. 2. The Fourth Five-Year Plan adopted the objective of correcting the earlier trend of increased concentration of wealth and economic power. 3. In the Fifth Five-Year Plan, for the first time, the financial sector was included as an integral part of the Plan. Select the correct answer using the code given below.

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The Nehru-Mahalanobis Strategy of Development was implemented for the first time by which one of the following Five-Year plans?

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The Nehru-Mahalanobis strategy of development guided the planning practice in India from the—

NDA-I · 2012 · Q69 Relevance score: 1.23

Consider the following statements relating to planning in India : 1. In the year 1938, the National Planning Committee was set up in India under the chairmanship of Jawaharlal Nehru. 2. The Bombay Plan was prepared by the Indian industrialists. 3. Acharya Kripalini prepared the Gandhian Plan. Which of the statements given above is/are correct?