Question

The major aim of the Second five year plan was?

• A. Agriculture
• B. Poverty Eradication
• C. Achievement of Self reliance
• D. Industrialization

Answer 1

Answer:

D. Industrialization

Second Five Year Plan (1956-1961)

• Primary Focus on Industrialization: It represented a significant shift from the agriculture-focused First Plan to rapid industrialization, particularly in heavy industries like steel, chemicals, and machinery.

1. Mahalanobis Model: As noted in the similar questions section, the plan was based on the Mahalanobis model, developed by statistician Prasanta Chandra Mahalanobis. This model emphasized developing capital goods industries and import substitution.

2. Targets and Growth:

   • Target growth rate: 4.5%

   • Actual growth rate achieved: 4.27%

3. Key Initiatives:

   • Establishment of major steel plants (Bhilai, Durgapur, Rourkela)

   • Focus on heavy industry and manufacturing

   • Development of public sector enterprises

   • Expansion of transport and communication infrastructure

4. Socialist Pattern: This plan laid the foundation for India's "socialist pattern of society" and increased state control over the economy.

5. Investment Pattern: Heavy emphasis on public sector investments in basic and heavy industries rather than consumer goods industries.