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Question

Which of the following was the focus area for the Second Five Year Plan

The correct answer is

Industrialisation

Second Five Year Plan: Focus Area

India's Five Year Plans were crucial in shaping the country's economic development strategy after independence. Each plan had specific objectives and focus areas to guide resource allocation and policy decisions.

The First Five Year Plan, which ran from 1951 to 1956, primarily focused on agriculture and rural development to address food shortages and improve the condition of farmers. It also laid emphasis on irrigation and power projects.

Following the success in stabilizing the agricultural sector to some extent, the government shifted its attention to building a strong industrial base for the country's long-term growth. This change in focus was reflected in the Second Five Year Plan.

The Second Five Year Plan (1956-1961), often associated with the Mahalanobis model, placed a strong emphasis on rapid industrialisation. The main objective was to build a self-reliant economy by focusing on the development of heavy industries.

Focus of the Second Five Year Plan

  • Rapid industrialisation with a focus on heavy and basic industries.
  • Development of public sector enterprises.
  • Increased investment in industries like steel, coal, heavy chemicals, and heavy engineering.
  • Reducing dependence on imports for industrial goods.

While objectives like reducing poverty and achieving self-reliance were also part of the broader goals of planning, Industrialisation was the distinct and primary focus area that defined the strategy and investments during the Second Five Year Plan period.

Therefore, the correct answer is Industrialisation.

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Important Questions from Initiatives by Government

  1. The Gadgil Formula for determining the allocation of central assistance for state plans in India was introduced in

  2. How many national five year plans have been introduced so far?

  3. Which states have benefitted from the Damodar Valley Project?

  4. The Ninth Five Year Plan was implemented in the country in which one of the following years?

  5. Which of the following are consequences of Globalisation in the case of the Indian economy?

    A. New Trade and Industrial Policies

    B. New Banking and Finance Policies

    C. Labour Market Reforms

    D. Fiscal Reforms

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