WBCS.LIVE practice question

The 'First Five-Year Plan' of India was based on which model?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Mahalanobis Model
  2. Harrod-Domar Model
  3. Gandhian Model
  4. Bombay Plan

Correct answer and explanation

Correct answer: Harrod-Domar Model

Explanation: āœ… Correct Answer: (B) Harrod-Domar Model šŸ“š Explanation: The First Five-Year Plan (1951-1956) was based on the Harrod-Domar model, which emphasized the role of savings and investment in driving economic growth. It focused primarily on agricultural development and irrigation projects. The Second Five-Year Plan, which emphasized rapid industrialization and heavy industries, was based on the Mahalanobis model.