Question

Discuss whether it would be beneficial for India if it turns out to be a free market economy, considering the excessive use of resources. [8] [Answer Key] Ans: Argument in favour of India being Free market Economy (4 marks) The points could based on “Efficiency, Profit Motivation/Freedom of choice/Growth possibility/Less government Interference etc. Argument against of India being a Free market Economy (4 marks) The points could be Inequality/ Less Provision of merit goods and public goods/Less Social welfare programs/Environmental Damage/Wealth accumulation etc. If the answer is one-sided, the maximum marks would be 5 marks.

Answer 1

Answer:

yes it would be beneficial for india