CA Foundation · Business Economics · Indian Economy
Which of the following was the central strategy of the Second Five Year Plan (1956-61) in India?
The Second Five Year Plan followed the Mahalanobis model and prioritised rapid industrialisation through heavy and capital goods industries like steel. Agriculture had been the focus of the First Plan, while liberalised, export-led growth emerged only after the 1991 reforms.
- ARapid industrialisation with emphasis on heavy and capital goods industriesCorrect
- BPriority to agriculture and community development
- CPoverty removal through direct employment programmes
- DExport-led growth through trade liberalisation
Explanation
The Second Plan, based on the Mahalanobis model, stressed rapid industrialisation with priority to heavy and basic industries such as steel. The First Plan, not the Second, gave priority to agriculture and irrigation. Export-led liberalisation came only after 1991.
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