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The first Five Year Plan of the Government of India was based on
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- Leontief input-output model
- Harrod-Domar model
- Mahalanobis two-sector model
- Mahalanobis four-sector model
- Leontief input-output model
Correct Option: B
The First Five Year Plan (1951-1956) was based on the Harrod-Domar model and primarily concentrated on raising the level of investment in irrigation, power and other infrastructure for accelerating growth. The development strategy was changed radically in 1956 with the initiation of the Nehru-Mahalanobis model of industrial development that emphasized the development of heavy industry under the public sector.
