First Five Year Plan Flashcards, test questions and answers

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What is First Five Year Plan?

The First Five Year Plan was a series of economic programs designed and implemented by the Soviet Union in 1928 to 1932. It was created following the death of Lenin, with Stalin taking control of the country and leading it into an era of rapid industrialization. The plan set ambitious goals for industry, agriculture, finance, transportation, education and culture. By 1933, it had achieved significant growth in agricultural production as well as heavy industry. The plan’s main objectives were to increase agricultural output and expand manufacturing industries such as steel production. To this end, collectivization policies were introduced which involved forcibly uniting small farms under state management; this led to widespread disruption among farmers who resisted the process due to fear of losing their land rights. In addition, new technology was imported from foreign countries such as Germany while domestic factories received subsidies to boost production levels. In order to fund these projects and pay workers higher wages than they would have otherwise earned in market economies (which weren’t possible at that time), the government imposed strict controls on prices and wages while also introducing taxes such as income tax and profits tax on businesses operating within Russia’s borders. This enabled large public works projects like hydroelectric dams or railway networks to be completed quickly and efficiently without draining too much money from other areas of the economy. Overall, despite its shortfalls in terms of forced relocation or lack of choice among citizens when it came to collective farming practices – the First Five Year Plan succeeded in its primary goal: rapidly developing Russia’s infrastructure so that it could compete with other industrialized nations around the world during that period. Its legacy can still be seen today through modern-day developments ranging from nuclear power plants all over Europe up until China’s current status as an economic superpower all thanks largely due to Stalin’s vision for his country’s future.