Who formulated the 'Peoples Plan' (an economic plan) in India?

Question

Question

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NTPC CBT-I (Held On: 18 Jan 2021 Shift 1)

Answer 1

The correct answer is MN Roy.

People's plan was prepared by M.N. Roy.
- M.N. Roy, a radical humanist leader, formulated the People's Plan in 1945
- The plan gave priority to agriculture and production and was drafted on behalf of the Indian Federation of Labour.
- Jaiprakash Narayan came up with the Sarvodaya Plan in 1950.
- Nehru-Mahalanobis Model came in the year 1955.
- Bombay plan was drawn up by a group of Industrialists in Bombay city, Mr. JRD Tata was among those industrialists.
- National Planning Committee was formed by Indian National Congress in 1938 and it was chaired by S C Bose.

Important Points

The Constitution came into force on 26 January 1950.
- Subsequently, Planning Commission was set up on 15 March 1950 and the plan era started on 1 April 1951 with the launching of the First Five Year Plan (1951-56).
- The idea of economic planning for five years was taken from the Soviet Union under the socialist influence of first Prime Minister Pt. Jawahar Lal Nehru.

Additional Information

Sir Chintaman Dwarkanath Deshmukh was an Indian civil servant and the first Indian to be appointed governor of the Reserve Bank of India by British Raj authorities in 1943.
Vallabhbhai Jhaverbhai Patel, endeared as Sardar, was an Indian statesman.
- He served as the first deputy Prime Minister of India from 1947 to 1950.
Jayaprakash Narayan, popularly known as JP or Lok Nayak, was an Indian independence activist, theorist, socialist and political leader.
- He is best remembered for leading the opposition in the mid-1970s against Prime Minister Indira Gandhi, whom he called for a "complete revolution" to overthrow.