Question 1

The First Five Year Plan in India was based on which economic model?

Accepted Answer

Harrod-Domar Model. The First Five Year Plan was based on the Harrod-Domar model which emphasized the role of savings and investment. This plan primary focused on the development of the agricultural sector to ensure food security. It was launched in 1951 and achieved a growth rate higher than its target.

Question 2

During which Five Year Plan was the 'Garibi Hatao' (Remove Poverty) slogan introduced?

Accepted Answer

Fifth Five Year Plan. The 'Garibi Hatao' slogan was a core part of the Fifth Five Year Plan initiated by Indira Gandhi. The plan aimed at achieving self-reliance and the removal of poverty through targeted programs. It was terminated one year ahead of its schedule by the Janata Government in 1978.

Question 3

Which Five Year Plan is known for the introduction of the Mahalanobis Model in India?

Accepted Answer

Second Five Year Plan. The Second Five Year Plan was based on the Mahalanobis Model which advocated for heavy industrialization. It shifted the focus from agriculture to the development of public sector and capital goods industries. Three major steel plants were established during this period with foreign collaboration.

Question 4

The 'Plan Holiday' period in Indian economic history refers to which of the following years?

Accepted Answer

1966-1969. The 'Plan Holiday' occurred between 1966 and 1969 when three annual plans were implemented instead of a five-year plan. This was due to economic instability caused by wars with China and Pakistan and severe droughts. It was a period of consolidation before the launch of the Fourth Plan.

Question 5

The core objective of the Twelfth Five Year Plan was stated as?

Accepted Answer

Faster, More Inclusive and Sustainable Growth. The Twelfth Five Year Plan set its main goal as 'Faster, More Inclusive and Sustainable Growth'. It was the last five-year plan of India, running from 2012 to 2017. Following this plan, the Planning Commission was replaced by NITI Aayog.

Five Year Plans — Set 1