Correct option is C
India adopted the concept of Five-Year Plans (FYPs) from the Soviet Union (USSR). The Soviet model of centralized economic planning was first introduced by Joseph Stalin in 1928, and it played a crucial role in rapid industrialization and economic development. Inspired by this approach, India's first Prime Minister, Jawaharlal Nehru, implemented the First Five-Year Plan in 1951 under the leadership of the Planning Commission.
Information Booster:-
- Introduced in 1951, based on socialist economic principles.
- Focused on agriculture, industrialization, and economic self-sufficiency.
- Implemented through centralized planning under the Planning Commission (1950-2014).
- Replaced by the NITI Aayog in 2015.