Question

The concept of Economic planning in India is derived from ________. (1) Russia (2) Australia (3) USA (4) UK

Answer 1

Answer: (1) Russia

Economic planning in India is a concept derived from Russia. By using only limited resources, economic planning is carried out by the government to boost the economy. The country’s economy after independence was not so highly advanced and depended entirely on the British economy. The Indian economy has faced many significant challenges. The only available solution was economic planning.Based on Russian based planning, this planning was performed.