Who among the following is known as the architect of Indian planning ?
- A.V.K.R.V. Rao
- B.Sukhamoy Chakravarty
- C.P.C. Mahalanobis
- D.John Mathai
Correct answer
Explanation
The correct answer is C, P.C. Mahalanobis. His model shaped the Second Five Year Plan (1956-61), which set India's path of heavy industrialisation, so he is called the architect of Indian planning.
Prasanta Chandra Mahalanobis was a statistician who founded the Indian Statistical Institute in Kolkata in 1931. He built a growth model that stressed investment in basic and heavy industries such as steel, machinery and power, and this became the core of the Second Plan. He was also a member of the Planning Commission and helped set up the National Sample Survey and the Central Statistical Organisation. India's National Statistics Day, 29 June, is held on his birthday.
A is wrong because V.K.R.V. Rao was an economist known for the first estimates of India's national income. B is wrong because Sukhamoy Chakravarty, also a planner, was known for his later work on the Seventh Plan and planning methods. D is wrong because John Mathai was a Finance Minister who presented early budgets of independent India.
Exam tip: Visvesvaraya, father of Indian planning (1934 book); Mahalanobis, architect of the Second Plan.
Practice Questions
View allThe Nehru-Mahalanobis Strategy of Development was implemented for the first time by which one of the following Five-Year Plans?
- A.First Five-Year Plan
- B.Second Five-Year Plan
- C.Third Five-Year Plan
- D.Seventh Five-Year Plan
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The Second Plan (1956–61) was built on the model prepared by the statistician P. C. Mahalanobis, which gave priority to heavy and basic industries.
Read the full explanation →The Insolvency and Bankruptcy Board of India (IBBI) was established in the year
- A.2014
- B.2015
- C.2016
- D.2017
Show answer
The Insolvency and Bankruptcy Board of India was set up on 1 October 2016 under the Insolvency and Bankruptcy Code, 2016.
Read the full explanation →Consider the following statements : 1. An additional spending by the Government of ₹ X is likely to have less impact on income than an additional transfer of ₹ X to households. 2. An additional spending by the Government of ₹ X is likely to have less impact on income if it is not accompanied by an expansion in money supply. Which of the statements given above is/are correct ?
- A.1 only
- B.2 only
- C.Both 1 and 2
- D.Neither 1 nor 2
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Government spending adds to income more than an equal transfer, and its effect is smaller when money supply is not expanded alongside it.
Read the full explanation →Which one of the following central features is not associated with Capitalist Economy?
- A.There is generalised commodity production - it has market value.
- B.Productive wealth is held predominantly in private hands.
- C.Economic life is organised according to market principles.
- D.Economic organisation is based on planning, a supposedly rational process of resource allocation.
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Allocation of resources through central planning is the mark of a socialist or command economy, not a capitalist one. In a capitalist economy, the means of production such as land, factories and capital are owned mainly by private individuals and firms.
Read the full explanation →Consider the following statements:
I. The Second Five-Year Plan sought to promote development which would establish socialistic pattern of society in India.
II. Between 1966 and 1969, three Annual Plans were formulated.
III. The Ninth Five-Year Plan could not take off at its stipulated time in the 60th year of India's Independence.
Which of the statements given above are correct?
- A.I and II only
- B.I and III only
- C.II and III only
- D.I, II and III
Show answer
Statements I and II are true, but the Ninth Plan began in 1997, the fiftieth year of Independence, not the sixtieth.
Read the full explanation →