Read the paragraph given below and answer, the following question:
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.
The idea of Planning commission and five year plan was adopted from:
Answer & explanation
Correct answer: option 2
The correct answer is option (2) - USSR
As per the passage:
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.