The Mahalanobis model, developed by statistician Prasanta Chandra Mahalanobis, was crucial in India's economic planning.
Key points:
Formed the theoretical basis of the Second Five-Year Plan (1956-1961)
Emphasized rapid industrialization and socialist pattern of development
Focused on heavy industries and public sector growth
Proposed a balanced approach to economic development
Influenced by the Soviet model of economic planning
Aimed to transform India from an agrarian to an industrial economy
Mahalanobis was a key economic advisor to Prime Minister Jawaharlal Nehru
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