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| 1956–61 |
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| The second Five-Year Plan aimed quickly to create, through central planning, an economy supported by state investment in heavy industry and military strength. But this strategy demanded a short-run reliance on imports, foreign exchange, and foreign aid (which India cleverly attracted from both the Communist and capitalist blocs). It also gave short shrift to agrarian development and the agrarian self-sufficiency that could have come from investment in that sector. | 1 |
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| 1957, April 5 |
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| Kerala, a coastal state in southwest India, installed its recently elected Communist government. | 2 |
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| July 11 |
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| The Aga Khan, the spiritual and temporal leader of 20 million Ismailis, died and was succeeded by his oldest grandson, Prince Karim Khan, with the title Aga Khan IV. | 3 |
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