GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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First Five-Year Plan
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Second Five-Year Plan
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Third Five-Year Plan
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Fourth Five-Year Plan
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Detailed explanation-1: -Mahalanobis Plan was India’s second five-year plan (1956-61) proposed by Professor Prasanta Chandra Mahalanobis. This plan gave priority to investment goods, as they were crucial for the further economic growth of India. The plan explores the allocation of investment between the different sectors of the economy.
Detailed explanation-2: -The Mahalanobis model has been constructed in terms of Keynesian aggregates; national income, investment, savings, and consumption, Two sectors are considered in the model; production goods producing sector (K-sector) and consumption goods producing sector (C-sector).
Detailed explanation-3: -Second Five Year Plan (1956 – 1961) The Second Five Year Plan revolved around the idea of developing the public sector and rapid industrialisation. The plan was allocated nearly 50 billion rupees in various fields to achieve targets. The scale of production and the production method was given a push for good.
Detailed explanation-4: -Detailed Solution. Prasanta Chandra Mahalanobis was also instrumental in formulating India’s second five-year-plan (1956-1961), which laid the blueprint for industrialisation and development in India.