Question : Harrod-Domar's growth model is known for highlighting the role of savings and investments. Which five-year plan in India was based on this model?
Option 1: First
Option 2: Second
Option 3: Fourth
Option 4: Third
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Correct Answer: First
Solution : The correct answer is First.
The Harrod-Domar growth model was introduced in the First Five-Year Plan of India from 1951 to 1956 under the leadership of Pt. Jawaharlal Nehru. The main objective of this first five-year plan was focused on the agricultural development of the country, and this model was considered successful as it achieved a growth rate of 3.6%.
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