Question

The Five-Year Plans in India were based on the model of which economist?

• A. Karl Marx
• B. Mahalanobis
• C. John Maynard Keynes
• D. Adam Smith

Answer 1

Answer:

B. Mahalanobis

The second Five-Year Plan (1956-1961) specifically followed the Mahalanobis model, developed by Professor Prasanta Chandra Mahalanobis. The Second five-year plan was based on the Mahalanobis model, an economic development model developed by the Indian statistician Prasanta Chandra Mahalanobis in 1953. PC Mahalanobis established the Indian Statistical Institute (ISI) in Calcutta in 1931 and for the same reason, he is known as the father of Indian Statistics. He was a member of the first Planning Commission of free India. The second five-year plan was for the year 1956-1961.