Elaborate Nehru-Mahalanobis Model of Growth, one of the major strategi

Question

Elaborate Nehru-Mahalanobis Model of Growth, one of the major strategies adopted in India from the second five-year plan.

15 Feb 2024

Answer :

Word Count : 604

The Nehru-Mahalanobis Model of Growth, also known as the Mahalanobis Model or the Second Five-Year Plan (1956-1961), was a significant economic strategy adopted by India in the early years after independence. This model was formulated by India's first Prime Minister, Jawaharlal Nehru, and the renowned Indian economist, Prasanta Chandra Mahalanobis, with the aim of achieving rapid industrialization and economic development, while simultaneously addressing the issue of poverty and inequality.

At its core, the Nehru-Mahalanobis Model advocated for a planned economy with a focus on industrialization through state intervention and public sector dominance. The model was based on the belief that ____ ________ ___ ____ __________ ___ ____ ____ _________ _______.
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