The second five-year plan was primarily based on which economic model?
Show answer & explanation
Correct answer: D
Explanation
Correct Answer: Mahalanobis Model.
Explanation:
- Second Five-Year Plan (1956–1961): This plan was based on a model developed by the renowned Indian statistician, Prashanta Chandra Mahalanobis.
- Main Objective: The primary goal of this plan was rapid industrialization, with a special emphasis on the development of heavy industries and infrastructure.
Additional Facts:
- First Five-Year Plan (1951–1956): This was based on the Harrod-Domar model, and its main focus was on agriculture.
- Major Industrial Plants: It was during the Second Plan that iron and steel plants were established at Bhilai (with assistance from Russia), Durgapur (Britain), and Rourkela (Germany).
- Atomic Energy Initiatives: During this period, the activities of the Atomic Energy Commission gained momentum under the leadership of Homi J. Bhabha.
Potential Questions for Upcoming Exams:
- Question: Who is considered the 'Father of Statistics' in India?
- Answer: P. C. Mahalanobis.
- Question: During which Five-Year Plan did India opt for a 'Mixed Economy'?
- Answer: The Second Five-Year Plan.
- Question: During which Five-Year Plan was the slogan 'Garibi Hatao' (Eradicate Poverty) coined?
- Answer: The Fifth Five-Year Plan.