GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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India adopted the ____ economic system.
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Capitalist
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Mixed
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Socialist
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None of the above
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Explanation:
Detailed explanation-1: -India officially adopted mixed economic policy through Industrial policy resolution 1948.
Detailed explanation-2: -b) After independence, India adopted the system of mixed economy where both the private and public sectors co-exist and contribute to the development of the nation.
Detailed explanation-3: -India officially adopted mixed economic policy through Industrial policy resolution 1948. 2. After inclusion of Socialism in Preamble, India changed its stance to Socialist Economy.
Detailed explanation-4: -Adam Smith is known as the father of the mixed economy.
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