Arrange the following events related to economic planning in the correct chronological order.
A. The first Plan Holiday
B. Launch of the Second Five Year Plan
C. Bombay Plan
D. Release of the actual document of the First Five Year Plan
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → C, D, B, A
(C) Bombay Plan — 1944.
(D) Release of the actual document of the First Five Year Plan — December 1951.
(B) Launch of the Second Five Year Plan — 1956.
(A) The first Plan Holiday — 1966, when the Fourth Plan was due.
NCERT (2025-26): “Planning Commission … Thus the Planning Commission was not a sudden invention. In fact, it has a very interesting history. We commonly assume that private investors, such as industrialists and big business entrepreneurs, are averse to ideas of planning: they seek an open economy without any state control in the flow of capital. That was not what happened here. Rather, a section of the big industrialists got together in 1944 and drafted a joint proposal for setting up a planned economy in the country. It was called the Bombay Plan.… The Early Initiatives … The draft of the First Five Year Plan and then the actual Plan Document, released in December 1951, generated a lot of excitement in the country. People from all walks of life – academics, journalists, government and private sector employees, industrialists, farmers, politicians etc. – discussed and debated the documents extensively. The excitement with planning reached its peak with the launching of the Second Five Year Plan in 1956 and continued somewhat till the Third Five Year Plan in 1961. The Fourth Plan was due to start in 1966. By this time, the novelty of planning had declined considerably, and moreover, India was facing acute economic crisis. The government decided to take a ‘plan holiday’.…” |