The correct answer is Option 3 - Twelve
Till now India has completed 12 Five Year Plans (12th was from 2012-17).
Five-Year Plans in India:
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.
The idea of the FYP: The Government of India prepares a document that has a plan for all its income and expenditure for the next five years.
The budget of the central and all the State governments is divided into two parts: ‘Plan-budget’ and ‘Non-Plan’ budget.
Till now India has completed 12 Five Year Plans (12th was from 2012-17). | 
