Question : The first Five Year Plan of the Government of India was based on
Option 1: Leontief input-output model
Option 2: Harrod-Domar model
Option 3: Mahalanobis two-sector model
Option 4: Mahalanobis four-sector model
Correct Answer: Harrod-Domar model
Solution : The correct option is Harrod-Domar model
The primary sector's development was the main focus of the first five-year plan. With few changes, the Harrod-Domar model served as the foundation for the First Five-Year Plan. In the year 1951, the Indian government launched it. Actual growth was 3.6% compared to the target growth rate of 2.1%. The model was Harrod-Domar.
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