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Why is PC Mahalanobis’ name talked about in the context of Five-Year Plans?
Question

Why is PC Mahalanobis’ name talked about in the context of Five-Year Plans?

A.

He was the chairman of the Planning Commission.

B.

He established the Institute of Economic Growth.

C.

He conceptualised the framework for the Second Five-Year Plan.

D.

He was the finance minister during the First Five-Year Plan period.

Correct option is C

The correct answer is (c) He conceptualised the framework for the Second Five-Year Plan.
• P.C. Mahalanobis is known for conceptualising the framework for the Second Five-Year Plan of India.
• His model, known as the Mahalanobis Model, emphasized the importance of heavy industries for economic development and laid the foundation for India's industrial policy.
Facts to remember:
• P.C. Mahalanobis was a renowned Indian statistician and the founder of the Indian Statistical Institute.
• The Second Five-Year Plan (1956-1961) aimed at rapid industrialization and building a strong industrial base.
• His model played a significant role in shaping India's economic strategy during the early years of planning.

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