Which of the following statements about the second five-year plan is INCORRECT?
The plan was based on the Keynesian Model.
The Second Five-Year Plan (1956-1961)
- The Second Five-Year Plan of India was based on the Mahalanobis Model, not the Keynesian Model.
- It emphasized rapid industrialization, particularly focusing on heavy and basic industries like steel, railways, and power.
- The plan played a crucial role in shaping India's economy towards a socialist pattern of society, as envisioned in the Industrial Policy Resolution of 1956.
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