Question

Explain with reasons:- 1)Independent India opted for mixed economy.​

Answer 1

Answer:

HERE YOU GO

Explanation:

Mixed economy is an economic system where decisions are taken by both public as well as private sectors. ... To meet the heavy need of growth, industrialisation, private sectors were also given chance to enter these areas of core importance. Hence, India opted for Mixed economy.

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Answer 2

Answer:

1. Good aspects (advantages) of Capitalist and Socialist system can be adopted by having mixed economy.
2. Economic development requires development of basic and heavy industries which require huge capital investment and the returns take much longer time.
3. Economic development was priority before India after independence.
4. Not many industrialists were been to invest in the industries and it was left to the government to take the initiative.

Therefore, India opted for the mixed economy.