Economics · Indian Planning Models
Which of the following correctly describes the 'Mahalanobis Two-Sector Model' that underpinned India's Second Five-Year Plan?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It advocated import substitution only in consumer goods industries while relying on foreign capital for heavy industries
- 2It proposed balanced growth across agriculture, industry and services with equal investment allocation
- 3It focused on agricultural growth as the leading sector to provide raw materials for light manufacturing
- 4It prioritised heavy capital goods industries (Department 1) to build the capital stock necessary for accelerating long-run growth, with consumer goods as a residual sector✓
Correct answer
It prioritised heavy capital goods industries (Department 1) to build the capital stock necessary for accelerating long-run growth, with consumer goods as a residual sector
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