The correct answer is 1951. Explanation & Key Takeaways: • The First Five-year Plan was floated in 1951 which mainly focused in the development of the primary sector. • The First Five-Year Plan was based on the Harrod–Domar model with few modifications. • This five years plan's president was Jawaharlal Nehru and Gulzarilal Nanda was the vice-president. • The Five-year plan was an economic initiative drafted by India's first Prime Minister, Jawaharlal Nehru. Related Concepts: • The Second Five Year Plan covers the period from April 1956 through March 1961. The second plan was to put India on a path toward industrialization. • The Third Five-year Plan stressed agriculture and improvement in the production of wheat, but the brief Sino-Indian War of 1962 exposed defects in the economy and shifted the focus towards the defence industry and the Indian Army. From 1965–1966, India fought a War with Pakistan. • The Fourth Five-Year Plan adopted the objective of correcting the earlier trend of increased concentration of wealth and economic power. • The fifth five year plan was terminated in 1978, its fourth year, due to change in the Government at the Centre.