Q. Consider the following statements regarding second five-year plan:
1.It was developed by Harrod – Domar.
2.It laid emphasis on rapid industrialization with a focus on heavy industries and capital goods.
Which of the statements given above is/are correct?
Answer: B
Notes:
Explanation: Second Plan: The plan period was 1956–61. The growth strategy emphasized rapid industrialization with a focus on heavy industries and capital goods.
The plan was developed by Professor Mahalanobis. Due to the assumption of a closed economy, shortages of food and capital were felt during this Plan.
Source: Ramesh Singh
