They presented a plan to reduce the large
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large what sis?
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- Programs for centralised economic and social progress were known as Five-Year Plans (FYPs). In the late 1920s, the first Five-Year Plan was put into effect by Joseph Stalin, the president of the former USSR.
- India also adopted socialism, but due to the existence of both the public and private sectors, the planning was not as thorough. India's planning was limited to the public sector. In 1951, the first Five-Year Plan was initiated. Instead of relying solely on market forces to determine expenditure, the goal was to plan public spending for fair growth.
- The development of heavy industry and the improvement of India's social sector were both greatly aided by the Five-Year Plans. The money could be spent where it was most needed with the help of a central planning system.
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