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The Mahalanobis Model, formulated by P.C. Mahalanobis in the early 1950s, became the cornerstone of India’s Second Five-Year Plan (1956–1961) and is often referred to as a “heavy industry strategy” because it prioritized rapid industrialization through the development of capital goods and heavy industries over consumer goods. Mahalanobis believed that building a strong industrial base was essential for long-term economic growth and self-reliance. The model emphasized the production _____ _____ ______ ________ _____ ________ ___ _______.
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