Question

describe 2nd year plan

Answer 1

$\huge\textbf{Answer}$

1️⃣The second five year plan focused on industry especially heavy industry .

2️⃣Domestic production of Industrial products was encouraged ,particularly in the development of the public sector .

3️⃣The plan follwed the mahalanobis model, an economic development model developed by the Indian statictsian Prashanta Chandra Mahalanobis in 1953.

4️⃣The plan attempted to determine the optimal allocation of investment between productive sectors in order to maximize long-run economic growth.

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Answer 2

Explanation:

1. The Second Plan focused on the development of the public sector and "rapid Industrialisation".

2. The plan followed the Mahalanobis model, an economic development model developed by the Indian statistician Prasanta Chandra Mahalanobis in 1953.

3. The target of 25% Increase in the national income was set through rapid industrialization.