SSC
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. 2. After inclusion of Socialism in Preamble, India changed its stance to Socialist Economy.
Detailed explanation-2: -India has a mixed economy; therefore, public, as well as private entities, co-exist. This is as a result of adapting the industrial policies in 1948 and later in 1956. However, they do not operate freely; instead, they are controlled by different mechanisms, i.e. policies implemented by Governments.
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