The idea of Planning in India was drawn from?
A- The Bombay Plan
B- Experiences of the Soviet Bloc countries
C- Experiences of NATO Bloc countries
D- Demand by Peasant Organisation
Choose the correct answer from the given options:
Answer & explanation
Correct answer: option 3
The correct answer is Option 3 - A and B only
A- The Bombay Plan
B- Experiences of the Soviet Bloc countries
C- Experiences of NATO Bloc countries
D- Demand by Peasant Organisation
The Idea of Planning in India was drawn from:
(A) The Bombay Plan
(B) Experiences of the Soviet bloc countries.
In 1944 a section of the big industrialists got together and drafted a joint proposal for setting up a planned economy in India. It was called the Bombay Plan. The Bombay Plan wanted the state to take major initiatives in industrial and other economic investments.
The concept of Five-Year Plans in India was inspired by the Soviet Union's (USSR) central planning system.
Nehru was impressed with the Soviet Union's approach and believed that a similar model could be adapted to India's needs to achieve rapid economic development and reduce poverty.