Who was professor Prasanta Chandra Mahalanobis?

Correct Answer Indian Scientist and Statistician

Key Points:

• Prasanta Chandra Mahalanobis Calcutta was an Indian statistician who was instrumental in formulating India's strategy for industrialization in the Second Five-Year Plan (1956–61).
• Mahalanobis Plan was India’s second five-year plan (1956-61) proposed by Professor Prasanta Chandra Mahalanobis. 
• This plan gave priority to investment goods, as they were crucial for the further economic growth of India.
• The plan explores the allocation of investment between the different sectors of the economy.

Additional Information

• Economic planning in India began after the country's independence in 1950 when it was thought important for the country's economic growth and development.
• This was carried out through the Planning Commission (1951-2014) and the NITI Aayog's (2015-2017) Five-Year Plans, which were established, implemented, and monitored.
• Under the socialist influence of the first Prime Minister Pt. Jawahar Lal Nehru, the idea of five-year economic planning was borrowed from the Soviet Union.