WBCS.LIVE practice question

The Second Five-Year Plan of India (1956ā€“1961) was based on which economic model?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Harrod-Domar Model
  2. Mahalanobis Model
  3. Gadgil Formula
  4. Solow Model

Correct answer and explanation

Correct answer: Mahalanobis Model

Explanation: āœ… Correct Answer: B) Mahalanobis Model šŸ“š Explanation: The Second Five-Year Plan focused heavily on rapid industrialization with a particular emphasis on the development of heavy and basic industries. It was drafted by the renowned statistician Prasanta Chandra Mahalanobis. This plan led to the establishment of major steel plants in Bhilai, Durgapur, and Rourkela with foreign collaboration.