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

Union of Soviet Socialist Republics

The correct answer is Option 2 - Union of Soviet Socialist Republics

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

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.