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

The Second Five Year Plan (1956–1961) is commonly referred to as the Mahalanobis Plan because it was based on the economic model developed by the eminent statistician P.C. Mahalanobis [1]. This plan marked a significant shift in India's development strategy, moving from the agricultural focus of the First Plan to a focus on rapid industrialization and the establishment of basic and heavy industries [3]. Central to this plan was the goal of achieving a 'socialist pattern of society,' as formally adopted in the Industrial Policy Resolution of 1956 [2]. This strategy emphasized a large public sector and investment in capital goods industries, such as steel and heavy engineering, to reduce dependence on imports and foster long-term growth [1]. While the Harrod-Domar model underpinned the First Plan, the Mahalanobis model defined the structural transformation attempted during the Second Plan period [1].

Sources

1. [1] https://www.mospi.gov.in/sites/default/files/Statistical_year_book_india_chapters/ch7.pdf
2. [3] Geography of India ,Majid Husain, (McGrawHill 9th ed.) > Chapter 15: Regional Development and Planning > Second Five-Year Plan (1955–56 to 1960–61) > p. 4
3. [2] Rajiv Ahir. A Brief History of Modern India (2019 ed.). SPECTRUM. > Chapter 38: Developments under Nehru’s Leadership (1947-64) > Concept of Planning for Economic Development > p. 645