Economic Planning of Nehru – Mahalanobis Model
To develop the economical state of the Indian economy the government of India implemented the Economic Planning-Nehru-Mahalanobis Model in 1955 by the prime miniature Jawaharlal Nehru. This is the second five-year plan after 1951.
As per the study based on the Economic Planning-Nehru-Mahalanobis Model, it is obvious that the Indian government led by Jawaharlal Nehru in 1955 implemented the planning to construct a positive economic model that follows the next five years of economic development. According to the study based on the Economic Planning-Nehru-Mahalanobis Model, it is obvious that the government tried to boost up the economic state of the country following a proper strategy that increases the potentiality of economic growth in the country. As per the study on the economical development of Indian history, and the economical movement it is necessary to highlight the name of Prasanta Chandra Mahalanobis. According to the Mahalanobis Model, it is clear that the base of the Indian economy tries to adopt domestic goods sectors that increase the potentiality of the country’s economic state.
What were the Basic Features of the Mahalanobis Model?
According to the studies based on the Indian economic development from the post-independent era, it is necessary to elaborate on the policies that are essential in developing the Indian economy. Following several economical reformation bills and models, the Mahalanobis Model is one of the most important economic models that help to change the perspective of economic growth of the country. Prasanta Chandra Mahalanobis is one of the renowned professors on Indian soil who suggested this model which was the second five-year plan for the economical development of the country and was implemented in the year of 1955. As per the fundamental features of the Mahalanobis Model, it follows a constructive approach towards the growth of the economy in the different sectors of the country. As per the policy of the model, it is evident that the priority of the Mahalanobis Model is to invest in the different sectors of the country and improve the stability of internal economic sustainability.
What was the Base of the Mahalanobis Model?
It is necessary to highlight the economic policy of India after the British colonial period. Therefore the importance of the Mahalanobis Model and its primary objectives are necessary to be discussed. As per the study and analysis based on the entire model, it is highlighted that the model focuses on the primary objective that is efficiency to develop the economic state of the country as well as that can follow the long-term economic growth of the country. As per the second five-year plan in the economic sectors, it was necessary to construct a model that injects effectiveness in the economic sectors as well as changes the perspective of the Indian economy in the world. The Mahalanobis Model also implements several ideas that are efficient to build and maintain transparency.
What is the Nehru Model?
Following the fundamental state of the Mahalanobis Model, it is necessary to highlight the Nehru model in contrast to the mentioned development model. As per the key area of the model, it is highlighted that the model is based on the four pillars of parliamentary democracy. Therefore economic planning is one of the most important factors that are highlighted as one of the fundamental issues that need to develop through constructing a proper economical planning and well-fare policy.
What is the Essence of the Mahalanobis Model?
As per the study based on the economic reforms in India, it is necessary to highlight the impact of the Mahalanobis Model as the essence follows the base of heavy industry in India. One of the primary criteria of this model is to boost up the foreign investment policy as well as invite several other industries. However, the Mahalanobis Model tries to ensure the investment of proper funds in this industry at the same time increases the potential improvement of the economic condition of the country. This modem also initiates the process of developing an internal investment policy in this industry to avoid foreign capital equipment.
Conclusion
According to the analysis of the entire Mahalanobis Model, it is clear that the models has developed following the measure of the industrial model as well as constructing a long term model that helps in maintaining proper and sustainable growth in the financial structure of the country.