Correct option is D
The correct answer is: (d) 4.5%
Explanation:
The Second Five-Year Plan (1956–1961) in India targeted a growth rate of 4.5%. This plan focused on industrialization, particularly heavy industries, as the main driver of economic growth. It aimed to achieve self-sufficiency in key sectors such as steel, energy, and infrastructure, with a special emphasis on the public sector and state-led development.
Information Booster:
• Architect of the Plan: P.C. Mahalanobis, a renowned statistician.
• Key focus: Industrial development, especially heavy industries like iron and steel.
• Major institutions created: Steel Plants (Bhilai, Durgapur, Rourkela), IDBI, LIC.
• Priority Sectors: Public sector, import substitution, and economic self-reliance.
• The Second Plan laid the foundation for India’s mixed economy model.
• Sponsored by the Planning Commission of India, chaired by Prime Minister Nehru.
Five-Year Plans of India
Plan | Model Used | Target Growth Rate (%) | Achieved Growth Rate (%) | Main Focus |
First Plan (1951–56) | Harrod-Domar Model | 2.1 | 3.6 | Agriculture, Price stability, Power & transport |
Second Plan (1956–61) | Mahalanobis Model | 4.5 | 4.27 | Industrialization, heavy industries |
Third Plan (1961–66) | Continuation of Mahalanobis | 5.6 | 2.8 | Self-reliance, agriculture |
Fourth Plan (1969–74) | Gadgil Formula | 5.7 | 3.3 | Growth with stability and progressive achievement of self-reliance |
Fifth Plan (1974–79) | Mixed model + Poverty removal | 4.4 | 4.8 | Poverty alleviation, self-reliance |
Sixth Plan (1980–85) | Liberal model with tech focus | 5.2 | 5.7 | Economic liberalization and modernization |
Seventh Plan (1985–90) | Growth with social justice | 5.0 | 6.0 | Employment, productivity, social justice |
Eighth Plan (1992–97) | Rao-Manmohan Singh model (liberalization) | 5.6 | 6.8 | Stabilization and structural reforms |
Ninth Plan (1997–2002) | Targeted growth + social justice | 6.5 | 5.4 | Growth with social justice and equity |
Tenth Plan (2002–2007) | Inclusive growth approach | 8.0 | 7.6 | Inclusive and sustainable growth |
Eleventh Plan (2007–2012) | Faster and inclusive growth | 9.0 | 8.0 | Rapid and inclusive growth |
Twelfth Plan (2012–2017) | Faster, sustainable and inclusive growth | 8.0 | 7.0 | Faster, sustainable, inclusive growth |
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