What was the main objective of second five year plan?
The main objectives of the Second Plan are an increase of 25 per cent in real national income over the five-year period 1956–57 to 1960–61; a large expansion of employment opportunities; rapid industrialization; and reduction of economic inequalities.
What are the objectives of five year planning?
The objectives of these five-year plans were as follows:
- Economic Growth.
- Economic Equity and Social Justice.
- Full Employment.
- Economic Self-Reliance.
- Modernisation.
What was the main focus of the Second Five Year Plan of 1956?
The second Five Year Plan centred on a shift towards developing capital goods and heavy industry for long-term economic benefit. Of the Rs 4,672 crore in public spending, there was a significant shift in allocation from agriculture to industry between the first and second Five Year Plans.
What were the targets of second five year development plan?
Second Five-Year Plans (1969–1965) Further improvements were made in railways, communications, and transportation. More attention was given to private sector industrial development and agricultural industries; the second five-year plans aimed to increase the national income by 20%.
What were the main objective of first and second five-year plan?
The main objectives: (i) The First Five Year plan addressed, mainly, the agrarian sector including investment in dams and irrigation. It focused on land reforms as the key to the country’s development. (ii) The Second FYP stressed on heavy industries.
What was the second plan known as *?
The second five-year plan focused on industry, especially heavy industry. The target of 25% Increase in the national income was set through rapid industrialization. The second five year plan is based on so called Mahalanobis model.
What are the objectives of planning?
Here we detail about the six major objectives of planning in India, i.e., (a) Economic Growth, (b) Attaining Economic Equality and Social Justice, (c) Achieving Full Employment, (d) Attaining Economic Self-Reliance, (e) Modernisation of Various Sectors, and (f) Redressing Imbalances in the Economy.
Was the second five year plan successful?
Second plan, 1932–1937 Further improvements were made in communications, especially railways, which became faster and more reliable. As was the case with the other five-year plans, the second was not as successful, failing to reach the recommended production levels in such areas as the coal and oil industries.
What are the aims and objectives of economic planning?
As said earlier, there were certain objective of economic planning which include: achieving economic growth in terms of increase in real national and per capita income, increase in the level of employment, removal of inequality in the distribution of income removal of poverty, ensuring social and economic justice etc.
What was the second five year plan class 12?
The second five-year plan laid emphasis on industry, particularly heavy industry. Distinct from the First five year plan that laid impetus primarily on agriculture, the domestic production of industrial products was supported in the 2nd plan, chiefly in the development of public sector.
What was the aim of second five year Class 12?
Answer: The main objective of the second five year plan was quick structural transformation by rapid industrialisation. Answer: India’s New economic policy was launched in 1999.
Who was the architect of second five year plan?
Mahalanobis
Mahalanobis, who was known as India’s ‘Plan Man’, was the architect of the Second Five-Year Plan.
What were the objectives of the second five-year plan?
Within this framework, it had the following objectives: 2. Objectives of the Second Five-Year Plan: 1. “A sizeable increase in national income so as to raise the level of living in the country.” 2. “Rapid industrialisation, with particular emphasis on the development of basic and heavy industries.” 3.
What is the history of Pakistan’s Development Plan?
1. PAKISTAN DEVELOPMENT PLAN SINCE 1955-60 2. Tahseen ullah – 01 UNIVERSITY AWKUM 3. FIRST FIVE YEAR PLAN (1955-1960) An Erratic Beginning to planned Development 4. •The Five year plan was conceived by the Ministry of Finance (MOF). •studied and developed by the Economic Coordination Committee. (ECC).
What are the five-year plans for the national economy of Pakistan?
The Five-Year Plans for the National Economy of Pakistan (otherwise publicly known as Five-Year Economic Plans for the National Economy ), were the series of nationwide centralised economic plans and targets as part of the economic development initiatives, in the Pakistan.
What was the Second Five Year Plan of 1955-56?
The Second Five Year Plan envisaged an increase in the total national income from Rs. 10,800 crores in 1955-56 to Rs. 13,480 crores in 1960-61 (calculated at 1952-53 prices). This represented an increase of about 25% over the five-year period.