Question

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

Answer 1

a: India follows both socialist and capitalistic views
b:democracy exists in a strict(capital) regument

Answer 2

A mixed economic system ensures private property and permits a level of monetary flexibility in the utilization of capital, yet in addition, takes into account governments to meddle in monetary activities with a specific end goal to accomplish social aims.

The highlights of a blended economy which exist in India are:

- Private ownership for production: This is seen in a large portion of the agrarian, modern and administration divisions.

- Important roles of market mechanisms: Market powers of demand and supply have a free role in deciding the cost of the product. The intercessions of the legislature in value assurance have generously lessened.

- The growth of Monopoly: India has seen the rise of countless houses, for example, Tatas, Birlas, Reliance, and so forth in the private area.