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Q99 (NDA-II/2023) Economy › Growth, Development, Poverty & Employment Official Key

Which Five Year Plan of India focused on rapid industrialization based growth process ?

Result
Your answer: —  Â·  Correct: B
Explanation

The Second Five Year Plan (1956–1961), based on the Mahalanobis Model, shifted India's economic focus from agriculture to rapid industrialization. Developed by statistician Prasanta Chandra Mahalanobis, the plan prioritized the development of heavy and basic industries to create a self-reliant industrial base for long-term growth.

  • Key Objective: To promote the growth of capital goods industries such as steel, chemicals, and machine building.
  • Major Achievements: This period saw the establishment of major steel plants at Bhilai, Durgapur, and Rourkela with international cooperation.
  • Policy Alignment: The plan was supported by the Industrial Policy Resolution of 1956, which defined the state's dominant role in the industrial sector to achieve a "socialistic pattern of society."

While the First Plan focused on agriculture, the Second Plan remains synonymous with India's push toward an industrial economy.

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