SSC MTS EXAM

Detailed explanation-1: -Indian economy on the eve of independence was primarily an agricultural economy though industries had also started to develop in different parts of the country. Most of the economy was part of the unorganised sector.

Detailed explanation-2: -It is true that during colonial period, India was semi-feudal economy because : (i) At the time of independence, there were two aspects of the Indian economy. The Britishers introduced a new type of land tenure system in India which gave birth to two classes-Zamindars or landlords and landless tenants or cultivators.

Detailed explanation-3: -The Indian economy is a mixed economy . Mixed economy implies demarcation and harmonization of the public and private sectors.

Detailed explanation-4: -The Indian economy was an agro-based economy on the eve of independence. 75% of the Indian population was earning a livelihood from agriculture. Despite being a primary source of income for a major population, this sector faced a decline under the British rule.