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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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