The Second Five Year Plan (1956-1961), often associated with the Mahalanobis Model, marked a significant shift in India's development strategy. What was the primary focus of this plan?
Rapid industrialization with a particular emphasis on the development of basic and heavy industries.
The question asks for the primary focus of India's Second Five Year Plan (1956-1961).
This plan was built on the strategy of statistician P.C. Mahalanobis, and is therefore often called the Mahalanobis model plan.
The Mahalanobis approach argued that lasting growth required first building up the capacity to produce capital goods, that is, the machines and materials that make other goods.
Accordingly, the plan's central aim was rapid industrialization with a particular emphasis on basic and heavy industries such as iron and steel, heavy machinery, coal and power.
The public sector was to take the lead in these core 'commanding heights' industries, so the strategy did not centre on maximizing the private sector's role there.
Export-oriented integration with global markets and immediate food self-sufficiency through the Green Revolution belong to later periods and were not this plan's main thrust.
Therefore the correct answer is Rapid industrialization with a particular emphasis on the development of basic and heavy industries.
The Five Year Plan was first launched in
Which of the following was/were the feature(s) of Lenin’s New Economic Policy (NEP) for the Soviet Union?
1) Private retail trading was strictly forbidden
2) Private enterprise was strictly forbidden
3) Peasants were not allowed to sell their surplus
4) To secure liquid capital, concessions were allowed to foreign capitalists, but the State retained the option of purchasing the product of such concerns
Select the correct answer using the code given below:
In ________ economies, all productive resources are owned and controlled by the government.
Private ownership of the means of production is a feature of a _______ economy.
Which of the following comes under the Quarternary sector?