Practicing Success

Target Exam

CUET

Subject

Political Science

Chapter

Politics in India Since Independence: Politics of Planned Development

Question:

The idea of the Five Year Plan was adopted in India from which of the following country?

Options:

United States of America

Union of Soviet Socialist Republics

Japan

Great Britain

Correct Answer:

Union of Soviet Socialist Republics

Explanation:

The idea of Five Year Plan was adopted in India from Union of Soviet Socialist Republics.

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 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: ‘Plan-budget’ and ‘Non-Plan’ budget .
A five-year plan has the advantage of permitting the government to focus on the larger picture and make a long-term intervention in the economy.