The correct answer is First. Explanation & Key Takeaways: • First Five-Year Plan • 1st five-year plan was from 1951 to 1956. • The prime target of the first five-year plan of India was the Development of agriculture. • The target Growth was 2.1 % and the Actual Growth was 3.6 %. • It was based on Harrod-Domar. • The influx of refugees, severe food shortage & mounting inflation confronted the country at the onset of the first five-year plan. Related Concepts: Second Five Year Plan (1956-1961) • The second five-year plan is based on the so-called Mahalanobis model. • This was the USSR model Indianized by PC Mahalanobis, the founder of the Indian Statistical Institute and a close aide of Nehru. • This model is known to have set the statistical foundations for state-directed investments and created the intellectual underpinnings of the license-raj through an elaborate input-output model. • This Model suggested that there should be an emphasis on the heavy industries, which can lead the Indian Economy to a long-term higher growth path • Started Industrial Policy Resolution 1956. Third Five-Year Plan (1961-1966) • The Third 5 year Plan focused on agriculture & enhancement in the production of wheat, but the succinct Sino - Indian War in the year 1962 exposed flaws in the economy & shifted the spotlight towards the Defence industry. • On May 31 & June 1, 1961, the National Development Council considered the Draft Report on the Third Plan and generally approved it. • In the course of this period, India's economy must not only enlarge swiftly but must, in unison, become independent and self-generating. • This long-standing approach is projected to offer a wide-ranging design of expansion for the country's natural resources, industrial advance, and agricultural changes in the social structure & an incorporated scheme of regional & national development. Fourth Five Year Plan (1969-1974) • The fourth Five Year Plan was the first plan launched by the Indira Gandhi government amid the pressure of drought, devaluation, and inflationary recession. • The country was fighting with population explosion, increased unemployment, poverty, and a shackling economy. In addition, the situation in East Pakistan (now independent Bangladesh) was becoming dire as the Indo-Pakistani War of 1971 and the Bangladesh Liberation War took place. • Funds earmarked for industrial development had to be used for the war effort. • The result was that this plan period was also no better than the third five-year plan.