The Bombay Plan, formulated in 1944 by a group of prominent Indian industrialists, proposed a 15- year plan for India's economic development. It advocated for significant state intervention in the economy, including investment in industries and infrastructure. While the idea of planning was already present within the national movement (e.g., National Planning Committee under Nehru, 1938), the Bombay Plan was a concrete and influential blueprint that demonstrated broad elite consensus on the necessity of planning for rapid industrialization after independence.
The idea of Planning in Independent India was drawn from
Asked in UPSC NDA 1 2022 · Topic: Planning (Evolution of Planning in India (Five-Year Plans era))
More Economic Development questions
- Which one of the following was set as a target of average growth of GDP of India over the plan period 2012 – 2017 by the Approach Paper to the Twelfth Five Year Plan ?
- Match List I with List II and select the correct answer using the code given below the Lists : List II List I (Five Year (Major Objective) Plan)
- Consider the following events : Establishment of the Planning Commission Formation of the National Development Council (NDC) Approval of the First Five-Year Plan by the NDC Constitution of the National Planning Committee Which one of the following is the correct sequence of the above events?
- Which Five Year Plan of India focused on rapid industrialization based growth process ?
- Who among the following is known as the architect of Indian planning ?
- Which among the following statements with regard to Five Year Plans in India is/are correct ? 1. The First and Ninth five year plans accorded high priority to agriculture 2. The Third Plan was based on the Harrod-Domar Model 3. Seventh Plan focused on food, work and productivity 4. The Ninth five year plan emphasized on massive investments in public sector Select the answer using the code given below :
- Before the inception of the First Five year Plan, which among the following Plans were initiated in India ? 1. Bombay Plan 2. Peoples Plan 3. Sarvodaya Plan 4. Gandhian Plan Select the answer using the code given below :
- Who wrote the book 'Planned Economy for India'?
