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    Question

    Upon which economic model was India's first Five-Year

    Plan based?
    A Keynesian model Correct Answer Incorrect Answer
    B Solow growth model Correct Answer Incorrect Answer
    C Harrod-Domar model Correct Answer Incorrect Answer
    D Mundell-Fleming model Correct Answer Incorrect Answer

    Solution

    India's first Five-Year Plan, initiated in 1951, was influenced by the Harrod-Domar model of economic growth, which emphasizes the importance of savings and investment in a developing economy. The plan aimed at raising national income by allocating resources to increase agricultural and industrial production.

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