Mixed economy in.india as per five year plan was opted in which five year plan
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Mixed economy in India according to the five year plans was opted in the second five year plan. This five year plan extended from 1956 to 1961. This means that the private and public sectors work hand in hand. The major aim of the plan was to allocate investments optimally between various sectors in order to maximize the economic growth for the country in the long-run.
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Mixed economy: An economic system where both private and a state monopoly coexist. All modern economies are mixed. The means of production are shared and is also called as dual economy.
In India, the British government introduced economic systems of free enterprise and capitalistic-type.
Indian economy is a mixed economy because it is neither completely socialist nor capitalist.
Mixed economy was introduced to India in the 2nd Fiver year plan.
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