Question
What was the estimated growth target of the Second
Five-Year Plan in India?Solution
The Second Five-Year Plan (1956–61) focused on rapid industrialization with an emphasis on heavy industries. Drafted by P.C. Mahalanobis, it aimed for an annual growth rate of 4.5%, although actual achievements fell slightly short of this target. Key Points: 1. The Mahalanobis model prioritized heavy industries and public sector expansion. 2. The Plan introduced the concept of "Nehruvian socialism." 3. Agriculture received secondary importance compared to industries. 4. The target growth rate was ambitious for the time. 5. It laid the foundation for India’s self-reliance in industrial sectors. Bee Facts: • (a) 2.1%: Growth target of the First Five-Year Plan (1951–56). • (b) 5.6%: Achieved growth during the Eighth Plan (1992–97). • (c) 3.6%: Achieved growth during the Second Five-Year Plan. • (d) 4.5%: Targeted growth for the Second Five-Year Plan.
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