Correct Answer - Option 4 : P.C. Mahalanobis
The correct answer is P.C. Mahalanobis.
- The Planning Commission was an institution in the Government of India which formulated India's Five-Year Plans, among other functions.
- The Second Five Year Plan of India was based on an economic model developed by P.C. Mahalanobis.
- The main objective of this plan was rapid industrialization with particular emphasis on the development of basic and heavy industries.
- It had targeted an increase of 25% in National Income by rapid industrialization, however, the achieved target was only 20%.
- The plan assumed a closed economy in which the main trading activity would be centred on importing capital goods
- Prasanta Chandra Mahalanobis was an Indian statistician.
- He devised a measure of comparison between two data sets that is now known as the Mahalanobis distance. He introduced innovative techniques for conducting large-scale sample surveys and calculated acreages and crop yields by using the method of random sampling.
- Planning Commission has now been replaced by NITI Ayog.
- PM is the ex-officio chairman of the NITI Ayog.