Question

Which plan was called as Mehalanobis plan named after the well-known economist ?

• A. First plan
• B. Second plan
• C. Third plan
• D. Fourth plan

Answer 1

Answer:

B. Second plan

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 :

1. Heavy industries ( steel , machinery )

2. Infrastructure development ( irrigation , power )

3. Import substitution

• Mahalanobis' s strategy aimed to reduce dependence on foreign goods and promote self - sufficiency.

• key features of the plan included:

1. Investment in public sector undertakings

2. 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.