Mahalanobis Plan: The Second Five Year Plan Explained
The question asks to identify which specific Indian Five Year Plan is also known by the name 'Mahalanobis Plan'. This alternative name is deeply connected to the economic strategy and the key figure behind its formulation.
The Second Five Year Plan and P.C. Mahalanobis
The plan widely recognized as the Mahalanobis Plan is the Second Five Year Plan of India. This plan period was from 1956 to 1961.
- Key Architect: The plan's strategy was heavily influenced by the work of the prominent Indian statistician and scientist, Professor Prasanta Chandra Mahalanobis. He is considered the father of statistical work in India.
- Mahalanobis Model: Professor Mahalanobis developed a specific economic development model, often referred to as the Mahalanobis model. This model emphasized the importance of capital goods industries for long-term economic growth.
- Focus Areas: Based on this model, the Second Five Year Plan prioritized rapid industrialization. The main thrust was on the development of basic and heavy industries such as steel, coal, iron ore, heavy engineering, and machine tools. The goal was to lay a strong foundation for industrial development and achieve self-reliance in crucial sectors.
- Contrast with First Plan: This was a significant shift from the First Five Year Plan (1951-1956), which had focused primarily on agriculture, irrigation, and infrastructure.
Significance of the Mahalanobis Approach
The Second Five Year Plan's strategy aimed to:
- Accelerate the rate of economic growth.
- Expand basic industries.
- Create large-scale employment opportunities.
- Increase national income and reduce disparities.
Due to Professor Mahalanobis's central role in designing and advocating for this industrial-focused strategy, the Second Five Year Plan became popularly known as the Mahalanobis Plan.
Other Plans Mentioned
The other options represent different phases of India's planned development:
- Third Five Year Plan (1961-1966): Focused on achieving self-sufficiency in agriculture and defense, alongside continuing industrial development.
- Sixth Five Year Plan (1980-1985): Emphasized poverty reduction, rural development, and economic liberalization.
Thus, the unique focus on heavy industrialization based on the Mahalanobis model makes the Second Five Year Plan the correct answer.
Similar Questions
- Which among the following is/are the objective(s) of setting up of Planning Commission in the 1950s in India?
1. To increase production and offering opportunities to all for employment
2. To make assessment of all resources of the country
Select the answer using the code given below: - Which among the following statements with regard to Five Year Plans in India is/are correct?
1. The First and Ninth five year plans accorded high priority to agriculture
2. The Third Plan was based on the Harrod-Domar Model
3. Seventh Plan focused on food, work and productivity
4. The Ninth five year plan emphasized on massive investments in public sector
Select the answer using the code given below: - Before the inception of the First Five year Plan, which among the following Plans were initiated in India?
1. Bombay Plan
2. Peoples Plan
3. Sarvodaya Plan
4. Gandhian Plan
Select the answer using the code given below: - Consider the following statements :
I. The Second Five-Year Plan sought to promote development which would establish socialistic pattern of society in India.
II. Between \(1966\) and \(1969\), three Annual Plans were formulated.
III. The Ninth Five-Year Plan could not take off at its stipulated time in the 60th year of India's Independence.
Which of the statements given above are correct? - Which of the following were the years of Annual Plans ?
Important Questions from Economic Planning-India
Which of the following has/have occurred in India after its liberalization of economic policies in 1991?
1. Share of agriculture in GDP increased enormously.
2. Share of India's exports in world trade increased.
3. FDI inflows increased.
4. India's foreign exchange reserves increased enormously.
Select the correct answer using the codes given below:
The main objective of the 12th Five-Year Plan is
Which of the following are associated with ‘Planning’ in India?
(1) The Finance Commission
(2) The National Development Council
(3) The Union Ministry of Rural Development
(4) The Union Ministry of Urban Development
(5) The Parliament
Select the correct answer using the code given below.
Economic growth is usually coupled with:
Consider the following statements:
1. National Development Council is an organ of the Planning Commission.
2. The Economic and Social Planning is kept in the Concurrent List in the Constitution of India.
3. The Constitution of India prescribes that Panchayats should be assigned the task of preparation of plans for economic development and social justice.
Which of the statements given above is/are correct?
