Which five-year plan was based on the ideas of Mahalanobis?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. Second five-year plan.
The Second Five-Year Plan of India, which spanned from 1956 to 1961, was based largely on the ideas of the Indian statistician and economist P.C. Mahalanobis. He emphasized the importance of heavy industrialization, especially in sectors like steel, mining, and machinery, to boost the country's economic growth. Mahalanobis argued for focusing on capital goods production to lay the foundation for long-term development. The plan aimed at rapid industrialization and self-reliance, giving less priority to agriculture in comparison to the first plan. His model played a significant role in shaping India's post-independence economic policy.