Resources for the Second Plan

Abstract

The Second Five Year Plan focuses on transitioning India from an agriculture-based to an industrial economy, with a total estimated outlay of Rs. 7,200 crores, including Rs. 4,800 crores for the public sector and Rs. 2,400 crores for the private sector. Its objectives are to increase national income, accelerate industrialization, expand employment, and reduce income inequality. Key investments are planned in agriculture, irrigation, power, industry, mining, and transport. Financing strategies include mobilizing domestic savings, progressive taxation, public borrowing, small savings, foreign exchange for imports, and controlled deficit financing. The Plan emphasizes collective responsibility, institutional cooperation, and adaptive policy measures to achieve ambitious developmental targets while maintaining economic stability.