SSC MTS EXAM

Detailed explanation-1: -Indian economy is a mixed economy because here both private and public sector co-exist and both work under the general guidance of economic planning.

Detailed explanation-2: -India allows market forces to decide the price and also in some areas government interferes like in necessary goods and decides the prices to protect the interest of poor people. That’s why, India’s economy is called a mixed economy.

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: -To achieve all this leaders of independent India choosed Model of Mixed Economy. Mixed is a system in which major economic decisions (what, how and for whom to produce) are taken by the central government authority in public sector as well as left to the free play of market forces in private sector.