What was the second five year plan known as?
The second five year plan is based on so called Mahalanobis model. This was the USSR model indianized by PC Mahalanobis, the founder of Indian Statistical Institute and a close aide of Nehru.
What was the second five year plan of Pakistan?
The second five-year plans oversaw the development of water and power utilities in East and West Pakistan and had energy sector built with the help from private-sector. The financial services heavily depended on the foreign investment and aid from the United States that bolstered the economy.
Who was the leader of 2nd 5 year plan?
Jawaharlal Nehru
Second Five Year Plan: It was made for the duration of 1956 to 1961, under the leadership of Jawaharlal Nehru. II.
What did the 2nd five year plan stressed upon?
The second five year plan has laid special stress on increasing the supply of consumer goods by using existing skills and equipment and steadily introducing technical improvements in the village and small-scale industries sector.
Which projects were started in the second five year plan which activities were given priority during the second five year plan?
1ans)The Second five-year plan assumed a closed economy in which the major trading action would be centered on importing capital goods. Hydroelectric power projects & 5 steel mills at Durgapur, Bhilai & Rourkela were set up. Atomic Energy Commission was formed in the year 1958 with Homi Bhaba as its chairman.
Why did the second five year plan fail?
The Second Five-Year Plan – Failures Similar problems of shortages, waste, bribery, corruption and over production were apparent.
Which was the successful five year plan?
The Soviet Union s victory over Germany in the Second World War is proof that the First Five-Year plan was indeed a massive success. The Soviet Union, previous to WW2, suffered heavy defeats in the Russo-Japanese War and in the First World War.
What was the duration of second five year plan?
INDIA’S FIRST FIVE YEAR PLAN covered the period from April 1951 through March 1956; the Second Five Year Plan covers the period from April 1956 through March 1961. The main objectives of planning in India are, broadly, to double real national income in less than 20 years and to double the per capita income in 25 years.
Who influence the strategy for the second five year plan?
The young nation needed building and industry was on the agenda of the second Five Year Plan, which was announced by the Planning Commission on May 14, 1956. Prime Minister Jawaharlal Nehru was influenced by the industrialisation that had swept the then USSR.
What is difference between second and fifth year planning?
(i) First Five year plan emphasised on agriculture development whereas the Second Five Year Plan had stressed on heavy industries. (ii) The First Five Year Plan was slower in reforms and Second Five Year Plan wanted to bring about quick structural transformation.
Who drafted the second five year plan?
The second Five-Year Plan was based on the PC Mahalanobis model. Its draft was prepared by P.C. Mahalanobis.
What was the focus of the second five year plan on what grounds was the second five year plan criticized?
Its objective was Rapid industrialization, particularly basic and heavy industries such as iron and steel, heavy chemicals, fertilizers, heavy engineering and machine building industry.
What was the second five year plan?
Second Five Year Plan: The second period of second five year plan was April 1, 1956 to May 31, 1961. The main purpose of the plan was to establish ‘socialistic pattern of society. The main objectives of the Second Five Year Plan are as under:
What was India’s second five-year plan (1956-61)?
India’s Second Five-Year Plan (1956-61)! The second plan was to set India on the path of industrialisation. P.C. Mahalanobis was the moving spirit behind the second five year plan. He gave the highest priority to strengthening the industrial base of the economy.
What happened to heavy industry during the second five-year plan?
…period (including that of the Second Five-Year Plan, slightly less strongly stressing heavy industry, which now followed) was only about 3.5 percent per annum, about the same as that of Germany over the same span of time. Nevertheless, during this period a number of important industrial enterprises were completed, though…
Who was the moving spirit behind the second five year plan?
P.C. Mahalanobis was the moving spirit behind the second five year plan. He gave the highest priority to strengthening the industrial base of the economy. It was in this light that the 1948 Industrial Policy Resolution was revised and the new resolution of 1956 was adopted.