Which five-year plan emphasised on the development of industries and industrial base in India?

The correct answer is Second.

Key Points

•  Indian Five-Year Plan :
  • ​A plan spells out how the resources of a nation should be put to use.
  • It should have some general goals as well as specific objectives which are to be achieved within a specified period of time.
  • The goals of the five year plans are growth, modernisation, self-reliance and equity.
  • In India, plans are of five years duration and are called five-year plans (we borrowed this from the former Soviet Union, the pioneer in national planning).
  • Our plan documents not only specify the objectives to be attained in the five years of a plan but also what is to be achieved over a period of twenty years.
  • This long-term plan is called a ‘perspective plan’.
  • The five-year plans are supposed to provide the basis for the perspective plan.
• Second Five year Plan (1956-1961):
  • ​The aim of this plan is to adopt the Nehru-Mahalanobis model.‘Rapid industrialization with particular emphasis on the development of basic and heavy industries Industrial Policy of 1956 accepted the establishment of a socialistic pattern of society as the goal of economic policy.
  • However, It could not be implemented fully due to the shortage of foreign exchange. Targets had to be pruned. Yet, Hydroelectric power projects and five steel mills at Bhilai, Durgapur, and Rourkela were established.

Additional Information

•  All Five-Year Plans:

  First Five-Year Plan	1951 to 1956.
  Second Five-Year Plan	1956 to 1961
  Third Five-Year Plan	1961 to 1966
  Plan Holiday	1966 to 1969
  Fourth Five-Year Plan	1969 to 1974
  Fifth Five-Year Plan	1974 to 1979
  Rolling Plan	1978-79
  Sixth Five-Year Plan	1980 to 1985
  Seventh Five-Year Plan	1985 to 1990
  Annual Plans	1990-91& 1991-92.
  Eighth Five-Year Plan	1992 to 1997
  Ninth Five-Year Plan	1997 to 2002
  Tenth Five-Year Plan	2002 to 2007
  Eleventh Five-Year Plan	2007 to 2012
  Twelfth Five-Year Plan	2012 to 2017