GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mahalanobis Model
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Vakil and Brahmananda’s Wage-Goods Model
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Harrod-Domar Growth Model
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Solow Growth Model
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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: -While the First Five-Year Plan emphasized agriculture, the Second Five-Year Plan focused mainly on rapid Industrialization and transportation development. Therefore, the Second Plan was also known as the Industrial and transport plan.
Detailed explanation-3: -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.
Detailed explanation-4: -Following projects were started during 2nd five-year plan : Projects like Iron and steel industries at Durgapur, Bhilai and Rourkela, Chemical fertilizers plant at Sindri; rail engine factory at Chittaranjan; factory of railway bogies at Perambur; Ship building factory at Vishakhapattanam started in 2nd five year plan.