The second five year plan that called for the establishment of socialist pattern of society was commonly referred to as the-
Mahalanobis Plan
India's Five Year Plans were a series of nationwide economic and social planning initiatives. Each plan had specific goals and strategies for development. The second plan holds particular significance due to its focus on heavy industry and achieving a 'socialist pattern of society'.
The Second Five Year Plan (1956-1961) shifted the focus from agriculture, which was the primary focus of the first plan, to rapid industrialization, particularly in heavy and basic industries. The main objectives included:
This plan aimed to lay the foundation for future industrial growth and self-reliance.
The Second Five Year Plan was based on a development model developed by the renowned Indian statistician Prasanta Chandra Mahalanobis. This model is known as the Mahalanobis model. It focused on investing heavily in capital goods industries to build up the economy's capacity for future growth.
Due to the significant influence of this model and the central role played by P.C. Mahalanobis in drafting the plan's framework, the Second Five Year Plan is very commonly referred to as the Mahalanobis Plan.
Therefore, the Second Five Year Plan, which called for the establishment of a socialist pattern of society and focused on heavy industries, is commonly referred to as the Mahalanobis Plan because it was based on the economic model developed by P.C. Mahalanobis.
| Plan | Period | Primary Focus | Model/Key Architect |
|---|---|---|---|
| First Five Year Plan | 1951-1956 | Agriculture, Rehabilitation | Harrod-Domar Model |
| Second Five Year Plan | 1956-1961 | Heavy Industry, Public Sector, Socialist Pattern | Mahalanobis Model (P.C. Mahalanobis) |
The concept of economic planning in India was inspired by the Soviet model. The Planning Commission of India was established in 1950 to formulate these plans. The goal was to achieve rapid and balanced economic development across the nation. The Second Five Year Plan was a crucial step in India's path towards industrial self-sufficiency, although it also faced challenges like inflation and foreign exchange shortages.
The 'socialist pattern of society' aimed at ensuring equitable distribution of income and wealth, reducing disparities, and expanding the public sector to control the 'commanding heights' of the economy.
The Gadgil Formula for determining the allocation of central assistance for state plans in India was introduced in
How many national five year plans have been introduced so far?
Which of the following was the focus area for the Second Five Year Plan
The Ninth Five Year Plan was implemented in the country in which one of the following years?
The Annual Plan described as 'Plan Holiday' were implemented during