What is Nehru Mahalanobis strategy?
nic of the economics of the Nehru era Mahalanobis strategy of shifting the investment allocation to- means adopted to pursue its goals than wards heavy goods would be higher, even for the consumer. The famed model had first appeared in goods sector, as it enhances productive capacity across the econ- e polymath.
What is Mahalanobis model Upsc?
Mahalanobis Plan was India’s second five-year plan (1956-61) proposed by Professor Prasanta Chandra Mahalanobis. This plan gave priority to investment goods, as they were crucial for the further economic growth of India. The plan explores the allocation of investment between the different sectors of the economy.
Which five year plan is known as Nehru Mahalanobis model and why?
The correct answer is Mahalanobis model. The Nehru-Mahalanobis model was adopted in the second five-year Plan. The main objective of this plan was rapid industrialization with particular emphasis on the development of basic and heavy industries.
Which plan is based on Mahalanobis model?
the second five-year plan
The correct answer is the second five-year plan. The Second five-year plan was based on the Mahalanobis model, an economic development model developed by the Indian statistician Prasanta Chandra Mahalanobis in 1953.
What was the aim of the Mahalanobis model?
Mahalanobis’ emphasis on basic heavy industries was also due to his objective of meeting the requirements of higher rate of capital accumulation from ‘within the economy and therefore enabling the economy to stop imports of foreign capital equipment and machines.
What did PC Mahalanobis invented?
What were P.C. Mahalanobis’s innovations? P.C. Mahalanobis devised a statistical principle—the Mahalanobis distance—to compare data sets. He found a way to calculate agricultural productivity using random sampling methods, and he applied statistics to economic planning for flood control.
What is the Mahalanobis distance Upsc?
1930: Proposed the Mahalanobis Distance for the first time, which is a measure of comparison between two data sets. The formula is used to find the distance between a point and a distribution, based on measurements in multiple dimensions. It is widely used in the field of cluster analysis and classification.
What are the goals of Five Year Plans?
Expert Answer:
- The goals of Five Year plans are growth, modernisation, self-reliance and equity.
- Growth: It refers to an increase in the countries’ capacity to produce the output of goods and services within the economy.
What was the role of PC Mahalanobis in five year plans?
P.C. Mahalanobis, in full Prasanta Chandra Mahalanobis, (born June 29, 1893, Calcutta [now Kolkata], India—died June 28, 1972, Calcutta), Indian statistician who devised the Mahalanobis distance and was instrumental in formulating India’s strategy for industrialization in the Second Five-Year Plan (1956–61).
Who is the architect of Indian planning?
Jawaharlal Nehru, the Founder of Modern India: The Architect of Indian Planning for Political, Economic, and Social Structure Hardcover – Import, 1 December 1989.
Which five year plan is also known as Mahalanobis model?
The second five-year plan
Notes: The second five-year plan (1956-61) was based on Mahalanobis model. It laid foundation for economic modernization for long-term growth of India. It focussed on rapid industrialization by focussing on heavy indsutries and capital goods.
What is the role of PC Mahalanobis in development?
Explanation: P.C. Mahalanobis was an Indian statistician. He developed several practical mathematical and statistical methods—including the Mahalanobis distance—that he later applied to India’s social and economic problems. His methods furthered India’s efforts to industrialize in the 1950s.
What is the Mahalanobis model?
An important point to note is that Mahalanobis identifies the rate of growth of investment in the economy not with rate of growth of savings as is usually considered by the economists but with rate of growth of output in the capital goods sector within the economy.
What was Nehru’s Mahalanobis plan?
This was demonstrated through the enactment of the second five-year plan – the Nehru Mahalanobis Plan (1950-1980). This plan was designed to bring about economic and social development through the industrialization of the Indian economy within a ‘socialist’ framework.
Is the nenehru-Mahalanobis model too lenient?
Nehru-Mahalanobis Model THIS refers to your editorial ‘Beyond the Growth Rate Target’ April 21). You are probably unduly lenient with the new Planning Commission.
What are the criticisms of Mahalanobis’ ‘heavy industry first’ strategy of development?
Mahalanobis ‘heavy industry first’ strategy of development has come in for severe criticism right from the time of formulation of the Second Plan. First, a serious mistake in Mahalanobis model is that he identified investment with saving. That indicates lack of knowledge of economics.