The idea of a Five Year Plan in India was adopted from which country:

USSR

The correct answer is option 1- USSR

The idea of planned economic development in India is adopted from Soviet Union (USSR).

The idea of the Planning Commission in India was derived from the Soviet Union (USSR).
The Planning Commission was set up in March 1950 by a simple resolution of the Government of India.
The Prime Minister was its Chairperson.
It was an extra-constitutional and non-statutory body.
It became the most influential & central machinery for deciding what path & strategy India would adopt for its development.
It had an advisory role and its recommendations became effective only when the Union Cabinet approved them.

As in the USSR, the Planning Commission of India opted for five year plans (FYP). The idea is very simple: the Government of India prepares a document that has a plan for all its income and expenditure for the next five years. Accordingly the budget of the central and all the State governments is divided into two parts: ‘non-plan’ budget that is spent on routine items on a yearly basis and ‘plan’ budget that is spent on a five year basis as per the priorities fixed by the plan. A five year plan has the advantage of permitting the government to focus on the larger picture and make long-term intervention in the economy.