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unit-4-planning,-governance-and-institutions

Unit-4 Planning, Governance and Institutions

This unit outlines the growth performance in each plan, the shifts in plan priorities and strategies, and the shifts in major economic policies leading to the present regime of economic reforms with a central place to market induced investment and growth.

What was the basic strategy of Second Five Year Plan?




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Learning Pundits Content Team

Written on Jun 26, 2019 3:35:28 PM

The Second Plan (1956-61) was conceived in an atmosphere of stability.

Agricultural targets of the First Plan were met. Prices were stabilised.

It is in this atmosphere, that the Second Five Year Plan was aimed at giving a big push to industrialisation.

The Mahalanobis model with thrust on heavy industries became the strategy of the Second Plan.

The political party in power adopted a resolution to move towards a Socialistic Pattern of Society.

This was reflected in the Industrial Policy Resolution, 1956 that spelt out the primacy of public sector in the basic, heavy and strategic industries, and laid the foundation for regulation of the private sector.