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What was the estimated growth target of the Second Five-Year Plan in India?
Question

What was the estimated growth target of the Second Five-Year Plan in India?

A.

2.1%

B.

5.6%

C.

3.6%

D.

4.5%

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

5.6

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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