Which of the following statements are correct about the Second Five Year Plan?

  1. It was based on Mahalanobis Growth Model
  2. The plan emphasized towards agriculture growth and led to Green Revolution in India
  3. The plan advocated huge imports through foreign loans
  4. It led to nationalization of Indian banks

Select the correct option from codes given below:

Answer: [B] 1 & 3 Only

PC Mahalanobis was the founder of Indian Statistical Institute and a close aide of Pandit Nehru. India’s Second Five Year Plan was based on Mahalanobis Growth Model. This Model suggested that there should be an emphasis on the heavy industries, which can lead the Indian Economy to a long term higher growth path. India’s second five year plan and Industrial policy Resolution 1956, which paved the way for development of Public Sector  and license raj; were based upon this model. Second and Third statements are incorrect.

This question is a part of GKToday's Integrated IAS General Studies Module