Second Five Year Plan The Framework

Abstract

The Second Five-Year Plan (1956-1961) provides a strategic framework for India’s economic development, focusing on rapid industrialization, employment generation, and social justice. Led by Prof. P. C. Mahalanobis, the plan aims to increase national income by 25% over five years while ensuring equitable access to education, healthcare, and basic necessities. With an investment allocation of Rs. 5,600 crores across sectors such as industry, agriculture, power, transport, and social services, the plan emphasizes capital formation, expansion of heavy industries, and development of small-scale enterprises. Key strategies include land reforms, decentralized planning, community participation, and enhanced public sector efficiency. By integrating economic growth with social welfare and regional equity, the plan seeks to create 10-12 million new jobs, increase agricultural productivity, and promote structural changes that reduce dependence on agriculture while boosting manufacturing and services. Overall, the Second Five-Year Plan lays a comprehensive foundation for sustainable, inclusive, and socially equitable economic development in India.