Question

classify indian economy system??

Answer 1

"Indian Economic System. The Indian economy is the world's twelfth largest according to market exchange rates. It is also the fourth largest economy by purchasing power parity (PPP) basis. From 1947 to 1991,the Indian Economic System was based on social democratic based policies".

Answer 2

The Indian economy system can be 'classified into 'three gross sectors' – the primary economy, the secondary economy, and the tertiary economy.  

Explanation:  

• The system of Indian economy is 'divided into three sectors', but if the operations aspect is considered then the economic system can be divided into two broad segments – the 'unorganized sector' and the organized sector.
• Also, if ownership aspect is taken into consideration then the entire economy of India can also be 'divided' into two schools – the much popular private sector and the governmental public sector.

Learn more about Indian Economic system:

Explain any two characteristics of Indian economy on the basis of which you can say that Indian economy is a mixed economy.

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India's economy is a mixed economy. Give two arguments in support of your answer

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