What was first five year plan? Why it was given primly?
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What was first five year plan?
From 1947 to 2017, the Indian economy was premised on the concept of planning. This was carried through the Five-Year Plans, developed, executed, and monitored by the Planning Commission and the NITI Aayog.
Why it was given primly?
The First Five-year Plan was launched in 1951 which mainly focused in the development of the primary sector. The First Five-Year Plan was based on the Harrod–Domar model with few modifications. ... The most important feature of this phase was active role of state in all economic sectors.
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