The second five year plan that called for the establishment of socialist pattern of society was commonly referredto as the-

Correct option is B

The correct answer is (b) Mahalanobis Plan.
· The second Five-Year Plan (1956-1961) was primarily based on the model proposed by P.C. Mahalanobis, a renowned Indian statistician.
· This plan emphasized the establishment of a socialist pattern of society by focusing on heavy industries and public sector enterprises.
· The aim was to accelerate the process of industrialization, create self-reliant economic structures, and reduce dependency on foreign imports.
· The Mahalanobis Plan suggested a significant role for the state in the economy, emphasizing long-term investments in industries that could generate capital goods.
· It was distinct from the first Five-Year Plan, which had prioritized agriculture and basic services.
· The plan aimed to balance growth in both the agricultural and industrial sectors, laying the foundation for long-term economic development.
Additional Knowledge:
· Nehru Plan: This refers to policies envisioned by Jawaharlal Nehru, but it is not the formal name of the Second Five-Year Plan.
· Harrod-Domar Plan: A foreign growth model emphasizing the role of savings and investment in economic growth, but not directly linked to India's second plan.
· Socialistic Plan: Though the second Five-Year Plan aimed for a socialist structure, the formal name of the plan is the Mahalanobis Plan.