Which one of the following statements regarding the objectives of the Second Five-Year Plan is not correct?

The Correct answer is Expansion of the consumer goods sector.

Key Points

• The Second Five-Year Plan (1956-1961) of India primarily focused on the development of the basic and heavy industry sector.
• This plan was based on the Mahalanobis model, which emphasized industrialization as the path to economic development.
• The main objectives of the plan included increasing the national income to raise living standards and expanding employment opportunities.
• The plan laid significant emphasis on building infrastructure for steel production, heavy engineering, and machine building.
• Consumer goods sector expansion was not a primary objective; the focus was on long-term growth through heavy industry.

 Additional Information

• Development of the basic and heavy industry sector
  • The Second Five-Year Plan aimed at the rapid industrialization of India, with a strong focus on basic and heavy industries.
  • It prioritized sectors like steel, coal, and heavy engineering to build a robust industrial base.
• Increase in national income to raise living standards
  • The plan focused on increasing the national income to improve the overall living standards of the population.
  • It aimed at balanced economic growth to ensure equitable distribution of wealth.
• Expansion of employment opportunities
  • The plan aimed at creating more jobs through the establishment of new industries and infrastructure projects.
  • Employment generation was seen as a key factor in combating poverty and improving living conditions.