WBCS.LIVE practice question

The First Five-Year Plan of India (1951-1956) was fundamentally based on which economic model?

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

Answer options

  1. P.C. Mahalanobis Model
  2. Harrod-Domar Model
  3. Gadgil Yojana
  4. John Sandy and S. Chakravarty Model

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 of India (1951-1956) was based on the Harrod-Domar economic model. This model emphasized that economic growth strictly depends on national saving rates and the productivity of capital investments. The plan primarily focused on the development of the primary sector, particularly agriculture and irrigation, to solve immediate post-independence food shortages.