In line with the Soviet Union's approach, India's Planning Commission adopted a system of five-year plans (FYPs). The concept is straightforward: the Indian government formulates a comprehensive document outlining its financial projections and allocations for the next five years. This entails dividing the budgets of the central and state governments into two categories: the 'non-plan' budget, which covers annual routine expenditures, and the 'plan' budget, which is allocated over the course of five years based on predetermined priorities set by the plan. By implementing a five-year plan, the government gains the advantage of being able to focus on the broader perspective and make sustained interventions in the economy for long-term development.

Which of the following was one of the basic aims of the planners of the first five-year plan to ensure development?

Raise the level of national income.

Main feature of First Five-Year Plan in India (1951-56):

It was launched in 1951.
Aimed to uplift the economy and break the cycle of poverty in India.
Led by a team of economists and planners, including Pt. Nehru.
K.N. Raj, emphasized a cautious approach to development to protect democracy.
Based on the Harrod-Domar Model.
The main focus was on the agrarian sector, with investments in dams and irrigation.
Land reforms were identified as crucial for agricultural growth and overall development.
Significant allocations were made for large-scale projects like the Bhakhra Nangal Dam.
Identified the pattern of land distribution as a major obstacle to agricultural growth.
Emphasized the need for land reforms to drive the country's development.
Aims included raising the national income level, which was challenging due to already low spending levels that couldn't be reduced further and difficulty in increasing savings.