The Second Five Year Plan that called for the establishment of Sociali

The Second Five Year Plan that called for the establishment of Socialist pattern of society was commonly referred to as the

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Harrod-Domar Plan

Mahalanobis Plan

Nehru Plan

Peoples Plan

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This question was previously asked in

UPSC NDA-1 – 2015

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The correct answer is B) Mahalanobis Plan. The Second Five Year Plan (1956-1961) is commonly referred to as the Mahalanobis Plan because its framework was largely based on the economic model developed by the statistician P. C. Mahalanobis.

– The Second Five Year Plan focused on rapid industrialization, with particular emphasis on the development of heavy industries.
– This plan aimed at achieving a ‘socialist pattern of society’ through state control over key sectors.
– P. C. Mahalanobis provided the theoretical and statistical foundation for this plan, emphasizing investment in basic and heavy industries.

The First Five Year Plan (1951-1956) was primarily based on the Harrod-Domar model, focusing on agriculture and irrigation. The Mahalanobis model stressed a shift towards industrial growth. Jawaharlal Nehru was the Prime Minister during this period and a strong proponent of socialist ideas and planning, but the plan itself is associated with Mahalanobis’s model. The “People’s Plan” was a separate economic plan proposed in 1944 by M.N. Roy.

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