Question:
Which plan was called as Mehalanobis plan named after the well-known economist ?
AFirst plan
BSecond plan
CThird plan
DFourth plan
Answer:
B. Second plan
Explanation:
Second Five Year Plan ( 1956 - 1961 )
The Second Five - Year Plan ( 1956 - 1961 ) of India is commonly known as the Mahalanobis Plan.
It was named after the renowned Indian economist and statistician, Prasanta Chandra Mahalanobis.
The plan focused on rapid industrialization, particularly in the public sector , with an emphasis on :
Heavy industries ( steel , machinery )
Infrastructure development ( irrigation , power )
Import substitution
Mahalanobis' s strategy aimed to reduce dependence on foreign goods and promote self - sufficiency.
key features of the plan included:
Investment in public sector undertakings
Emphasis on capital goods production
3. Increased government control over the economy
The Mahalanobis Plan played a significant role in shaping India's economic development and industrial growth during the 1950s and 1960s.