SSC MTS EXAM

Detailed explanation-1: -A mixed economy protects private property and permits some economic freedom in the use of capital, but it also permits government intervention in the economy to achieve social objectives. India is an example of a nation that has a mixed economic system.

Detailed explanation-2: -India is a mixed economy moving towards capitalism. In a mixed economy, private and public sectors go side by side. Before Independence, the Indian economy was a ‘laissez-faire’ economy. But post-independence, she adopted the mixed economy system.

Detailed explanation-3: -Indian economy is a mixed economy. A mixed economy can be defined as a market system which entails features from both the capitalist economy as well as socialist economy. Decisions in a mixed economy are jointly taken by both the private as well as public sector.

Detailed explanation-4: -India officially adopted mixed economic policy through Industrial policy resolution 1948.