Five Year Plan Based on P.C. Mahalanobis Model
The P.C. Mahalanobis Model represents a key theoretical foundation for India's early economic development strategies.
Model Implementation:
- The $2^{\text{nd}}$ Five Year Plan, which spanned from 1956 to 1961, was primarily based on the P.C. Mahalanobis Model.
Model's Strategy:
Developed by the renowned Indian statistician Prasanta Chandra Mahalanobis, this model advocated for a focus on rapid industrialization, particularly emphasizing the expansion of heavy industries and capital goods production. The objective was to achieve long-term economic self-sufficiency and growth.
The emphasis on capital formation and industrial development during the $2^{\text{nd}}$ Five Year Plan directly reflects the principles of the Mahalanobis strategy.
Similar Questions
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Important Questions from Economic and Financial Affairs
As per the Union Budget 2021-22, the government plans to continue on the path of fiscal consolidation, achieving a fiscal deficit level below 4.5% of GDP by ______.
- The National Rail Plan announced in the Union Budget of 2021-22 aims to create a future ready railway system by which of the following years?
As per the Economic Survey 2021, in which of the following states did the proportion of households that had health insurance decrease by 12% from 2015-16 to 2019-20?
As per Economic Survey 2020-2021, India’s real GDP is estimated to grow by ______ in financial year 2021-22.
As per the Economic Survey of India 2020-21, India is expected to have a Current Account Surplus of ______ GDP in FY21.
